Which of the following is considered retail communication by FINRA?

1. AA mass email sent to 50 retail investors✓ Correct answer
2. BA letter sent to a single institutional investor
3. CAn internal memo circulated among registered representatives
4. DA communication addressed to fewer than 25 retail investors

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• Which of the following is NOT considered correspondence under FINRA rules?
• When amending a rule, what is the SRO required to do before submitting to the SEC?
• Who is generally required to approve retail communications before use?
• If an SRO fines a member for a rule violation, where does the money go?