FINRA revises filing rules for social media

01/6/2012 | AdvisorOne · Ignites.com (subscription required)

The Financial Industry Regulatory Authority dropped its proposed post-use filing requirement for broker-dealers who make social media postings after Fidelity and other firms sent comments arguing that the rule was overly burdensome. Postings in online interactive forums will now be considered retail communication exempt from filing. FINRA also incorporated a suggestion from the Investment Company Institute to redefine the categories of public communication as institutional communication, retail communication and correspondence.

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