The Financial Industry Regulatory Authority Inc. has changed some investment product sales literature approval requirements.

FINRA, Washington, has issued a document, Regulatory Notice 08-12, which amends Rule 2210.

The NASD rule governs FINRA member firms’ communications with the public.

The new change will apply to brokers and other intermediary firms that sell variable insurance products and mutual funds.

In some cases, the change will let an intermediary firm that gets sales materials from outside firms 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 will have to use the outside sales materials without changing the materials in a significant way or using the materials in a manner inconsistent with the requirements of FINRA’s advertising regulation department, FINRA officials write in the FINRA notice.

The exception applies only if the company that produced the sales materials has filed the materials with FINRA’s advertising review department.

FINRA officials are predicting the change could eliminate the need for hundreds or even thousands of re-approvals per member firm per year.