MFA supported FINRA’s proposal to modernize its rules governing communications with the public.
MFA explains that:
- Firms should use risk-based supervision instead of mandatory pre-use approval for all retail communications.
- Social media communications should be regulated based on risk, not whether content is static or interactive.
- FINRA should streamline unnecessary filing requirements.
- Existing, technology-neutral standards should apply to AI-generated communications.
- FINRA should recognize qualified purchasers as institutional investors and better align Rule 2210 with the SEC Marketing Rule.
