How to File Communications with Advertising Regulation
Firms can file communications for review via Advertising Regulation Electronic Filings (AREF), an online application. In addition, firms can use AREF to view, print and save the department’s review letters.
The vast majority of communications are filed electronically through AREF. However, firms still wishing to submit hard copies must use the Advertising Regulation Filing Cover Sheet (PDF). Effective September 28, 2015, FINRA migrated the AREF system to a new platform that allows firms to submit advertising-related files through a wide variety of formats and to submit larger files.
Advertising Regulation Electronic Filings (AREF) — The New Experience is Now Live
As part of FINRA Forward, the Advertising Regulation Department is modernizing the Advertising Regulation Electronic Filings (AREF) application. The updated system provides member firms with a streamlined submission and review experience, including a refreshed user interface, improved integrations across FINRA systems and more robust task management capabilities.
The modernized AREF platform is now live. Firms that use AREF to file communications for review have been transitioned to the new system.
To support a smooth transition, FINRA has made resources available, including a navigation guide and a navigation video walkthrough. Access these materials here.
About Advertising Regulation Electronic Filings (AREF)
Advertising Regulation Electronic Filings (AREF) is FINRA's electronic filing system that enables member firms to submit communications with the public for review by FINRA's Advertising Regulation Department. AREF is fully integrated into the FINRA Gateway experience, providing a unified platform for firms to file, track, and manage their advertising review submissions alongside other FINRA regulatory activities.
Through AREF on FINRA Gateway, firms can submit communications for review, view and download comment letters and access real-time filing fee information.
Key Capabilities
AREF provides firms with the ability to:
- Submit communications in a wide range of formats, including documents, images, audio, video, and mobile application packages (.apk)
- Submit communications in file sizes up to 5 GB, supporting larger and richer media submissions
- Submit website content in native file format with a list of page URLs for review
- Validate filings for completeness prior to submission, helping firms avoid rejected or incomplete filings due to missed required fields
Access & Support
Electronic filing and comment letter delivery through AREF is standard. Email, mail, or fax remains available upon request.
Access AREF through FINRA Gateway at: https://gateway.finra.org.
- Questions regarding system access: (800) 321-6273 or by email.
- Questions regarding comment letters or advertising rules: Advertising Regulation Department at (240) 386-4500.
Frequently Asked Questions
1. How do I file communications for review by FINRA?
Firms file most communications for review using the Advertising Regulation Electronic Filings (AREF) system. You may also call the Advertising Regulation Department at (240) 386-4500 to learn more about how to file using AREF.
2. How will FINRA respond to communications that firms submit for review?
FINRA provides a written "Review Letter" electronically via the AREF system. The Review Letter provides necessary comments as to the compliance of the submission. In addition, the review letter documents the cost of the review.
Our expedited review service provides for a response within three business days (or other negotiated time period) after the day FINRA receives the material. FINRA will send expedited responses no later than close of business on the third review day. However, response time for regular submissions may vary depending on the volume of filings FINRA receives.
3. What are the filing fees for the submission of communications to FINRA?
As set forth in Section 13, Schedule A of the FINRA By-laws, the following fees apply to each communication submitted:
Regular Filings:
- $ 300.00 for the first ten pages of material
- $ 10.00 for each additional page
- $ 300.00 for the first ten minutes of each video and audio item
- $ 10.00 for each additional minute of each video and audio item
Expedited Filings:
- $600.00 for all requests for expedited review for the first ten pages/minutes
- $ 50.00 per page/minute in excess of the first ten pages/minutes
4. How are filing fees paid?
Each month, your firm's Super Account Administrator will receive an email notification that an Advertising Regulation invoice is available in E-Bill via FINRA Gateway. The Advertising Regulation Invoice will provide detailed transaction charges incurred during the billing period along with the total amount due. You may pay your Advertising Regulation filing fees online using E-Bill:
- Firm Bank Account (ACH payment)
- Credit Card Payment (Visa, MasterCard or American Express)
In addition, there are three other payment methods:
- E-Bill System
FINRA’s E-Bill system, which firms can access through FINRA Gateway, allows member firms to view and pay their FINRA invoices online. Visit the E-Bill page for more information on making payments via E-Bill.
- Wire/ACH Payments
Funds may be wired for payment of filing fees. To pay Advertising invoices by wire transfers, provide your bank with the following information:
Bank Name: Bank of America
Transfer funds to: FINRA
Wire ABA Number: 026009593
ACH ABA Number: 054001204
Beneficiary: FINRA
9509 Key West Avenue
Rockville, MD 20850
FINRA Account Number: 226005684771
Swift Code for Wires Sent in U.S. Dollars: BOFAUS3N
Swift Code for Wires Sent in Foreign Currency: BOFAUS65
Reference Number: Invoice number
- Check Payment
Checks can be sent by regular mail or by courier/overnight delivery. Checks sent by regular mail must be sent to the P.O. Box address provided below. All checks sent by courier or overnight delivery must be sent to the alternative address provided below, as the P.O. Box address will not accept courier or overnight deliveries. We encourage the use of the P.O. Box address as it facilitates more timely automated processing of your remittance.
Include the invoice number on the check and send the payment to:
FINRA
P.O. Box 418911
Boston, MA 02241-8911
(Note: P.O. Box does not accept overnight/courier deliveries)
For courier/overnight CHECKS only:
Bank of America Lockbox Services
FINRA 418911
MA5-527-02-07
2 Morrissey Blvd.
Dorchester, MA 02125
Please contact the Finance billing department with questions about your Advertising Regulation Invoice at (240) 386-5397.
5. How do I access additional information about my Advertising Regulation fee transactions?
Firms may view a real-time listing of current and past transactions online in AREF. If your firm incurred filing fees prior to December 2012, you may also view historical Advertising Regulation Fee Account statements.
6. How do I contact the Department?
Our contact information is:
FINRA
Advertising Regulation Department
9509 Key West Avenue
Rockville, MD 20850-3389
Telephone: (240) 386-4500
Fax: (240) 386-4568
Email: [email protected]