Alert February 19, 2008

SEC Approves FINRA Proposal to Eliminate Principal Pre-Approval Requirement for Sales Material Previously Filed by Another Member

The SEC approved FINRA’s proposal to create an exception to NASD Rule 2210’s registered principal pre-approval requirements that allows a member firm to use sales material without principal pre-approval, if another firm has filed the sales material and received a letter from FINRA stating that the sales material appears consistent with applicable standards.  See the January 15, 2008 Alert for a more detailed discussion of the amendment.