The Securities and Exchange Commission’s Division of Investment Management has issued guidance intended to clarify when mutual funds and other investment companies should file social media materials for review by the Financial Industry Regulatory Authority.
These entities are required to file certain advertisements for review by FINRA. According to the Division, “out of an abundance of caution,” many are doing so unnecessarily. In response, its new guidelines provide examples of the kinds of communications it believes would trigger a filing requirement, as well as those that would not.
