FINRA Issues Guidance on Advertising and Communications (FINRA Reg. Notice 15-17) (with Lofchie YouTube Selection)

FINRA issued a regulatory notice informing members of updated guidance on rules governing communications with the public. The update follows a retrospective rule review regarding their effectiveness and efficiency.

The guidance comes in the form of additional questions and answers ("Q&Amp;A") on the Advertising Regulation page on FINRA's website. The following topics, among others, are addressed in the updated Q&Amp;A:

• principal approval;
• non-promotional communications;
• social media posts in online interactive electronic forums;
• filing exclusion for non-material changes to previously filed retail communications;
• article reprints;
• institutional communications;
• disclosure of expense reimbursement arrangements in mutual fund performance advertising;
• Securities Act Rule 482 Issues (relating to mutual funds); and
• business development companies.

Lofchie YouTube Selection: A Wake-up Call.

See: FINRA Reg. Notice 15-17; FINRA Rule 2210 QA.Related news: FINRA Requests Comments on Amendments to Rules Governing Communications with the Public (FINRA Reg. Notice 15-16) (with Lofchie Comment) (May 18, 2015).