RCA - March 1997 - Ask The Analyst - Mutual Funds And Filing Requirements

Q. How does NASD Regulation define generic sales literature and advertising, and when is such material required to be filed?

A. Generic material may provide discussions of investment company securities as a means of investing so long as no specific security is named, described, or offered. You must file generic communications concerning registered investment companies (i.e., mutual funds, variable annuities, unit investment trusts) with the Advertising Regulation Department within 10 days of first use as required by Rule 2210 (c)(1). The Rule exempts from this requirement communications that do no more than list types of securities avail-able from the member (e.g., "We offer the following products: stocks, bonds. mutual funds and variable annuities").