Advertising Regulation Targeted Exam Letters

The Advertising Regulation department periodically requests that selected groups of broker-dealers provide for review communications that are normally not subject to the filing requirements set forth in the FINRA rules. These sweep or spot check reviews generally target areas of regulatory concern such as a new type of product or an investor protection issue. If a review reveals rule violations, the staff will provide written commentary to the firm and inquire into the preparation and use of the material. The staff may then refer these matters for disciplinary action.

FINRA has issued the following advertising-related targeted examination letters.