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.

To benefit from the new exception, the intermediary firm would have to use the outside sales materials without changing the materials in a significant way or violating the requirements of FINRA’s advertising regulation department, SEC officials write in an announcement of the decision to approve the change.

The exception would apply only if the company that produced the sales materials has filed the materials with FINRA’s advertising review department and the department has issued a “letter finding that the material appears to be consistent with applicable standards,” SEC officials write.

The change is necessary because some intermediary firms have had to get principals to review hundreds or thousands of previously reviewed pieces of sales literature each year, SEC officials write.