Spot-Check of Reverse Exchangeable Securities Advertising and Sales Literature

FINRA Targeted Examination Letter

March 28, 2011

FINRA posted on its website a "targeted examination letter," requesting that firms provide to FINRA all "advertisements, sales literature, and institutional sales material" that concern reverse exchangeable securities (reverse convertibles), as well as firms' relevant supervisory procedures, offering documents relating to reverse convertibles, and certain other relevant material. Firms are required to submit this information to FINRA by April 1, 2011.

Cross References

NASD Rule 2210, 2211