Series 7 practice questioneasyCommunications with the Public (Retail and Institutional) — Filing Requirements
Under which circumstance must a firm's retail communication be filed with FINRA at least 10 business days prior to first use?
- AWhen sending internal memos to employees
- BWhen communicating only with institutional investors
- CWhen sending correspondence to a single client
- DWhen promoting mutual funds for the first time✓ Correct answer
Explanation
Why D — When promoting mutual funds for the first time
Retail communications promoting registered investment companies (such as mutual funds) must be filed with FINRA at least 10 business days prior to first use if the firm is promoting these products for the first time.
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