Compliance

What is FINRA Rule 2210?

FINRA Rule 2210 governs broker-dealers' communications with the public, classifying them as correspondence, retail, or institutional communications and setting approval, recordkeeping, and content standards for each.

Rule 2210 is the broker-dealer counterpart to the SEC Marketing Rule. It sorts communications into categories — most marketing content, including podcasts and videos aimed at the public, is a 'retail communication' — and sets rules for principal approval, filing with FINRA where applicable, and retention.

All communications must be fair and balanced, must not be misleading, and must provide a sound basis for evaluating any claims. Records must be kept for the required retention period.

This is general information, not legal or compliance advice. Firms should apply their own supervisory procedures and consult compliance.

Back to the full glossary.

FINRA Rule 2210 — questions

Are podcasts retail communications under FINRA Rule 2210?
A podcast distributed to more than 25 retail investors in a 30-day period is generally a 'retail communication' under Rule 2210, which typically requires principal review and retention. Classification depends on the audience and facts; confirm with your firm's compliance team.

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