Regulations第 57 / 110 题

Under FINRA's communications rules, a written message distributed to more than 25 retail investors within any 30 calendar-day period is classified as:

a.Correspondence
b.An institutional communication
c.A retail communication
d.A public appearance

解析

The 25-recipient threshold in a rolling 30-day window separates correspondence from retail communications, and exceeding it triggers the stricter principal approval and filing framework. Institutional communications are those directed only to institutional investors. A public appearance covers unscripted live presentations rather than written material.

法律依据: FINRA Rule 2210 (Communications with the Public)

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