The U.S. Securities and Exchange Commission has approved an effort by the Financial Industry Regulatory Authority Inc. to simplify reviews of some types of investment product sales literature.
The SEC has granted an order that will permit FINRA, Washington, to ease sales literature review requirements.
The change applies to brokers and other intermediary firms selling variable insurance products and mutual funds.
In some cases, the change will let an intermediary firm that gets sales materials from outside firms to use the materials without submitting the materials to a review by one of the intermediary firm’s own registered principals.