2026 update to FINRA 2210 Communications with the Public

FINRA 2210 governs how broker-dealers communicate with the public, from customer emails to website content, social media rules and, increasingly, AI-generated content. On July 9 2026, FINRA published a new regulatory notice, proposing the most significant overhaul to Rule 2210 in years.

It’s designed to modernize the framework, which was originally built before widespread company use of social media and generative AI. But the proposal changes almost every touchpoint in a firm’s approach to reviewing, supervising, and filing communications.

With the comment window closing on September 11, here is a clear breakdown on what firms need to know so that they can have their say before it’s too late.

A quick recap of the FINRA 2210 rules

FINRA 2210 sorts communications into three categories, based on the type of investor:

Investor type	Definition
Retail	Written or electronic communication distributed to more than 25 retail investors in a 30-day period
Correspondence	Written or electronic communication distributed to less than 25 retail investors in a 30-day period
Institutional communication	Written or electronic communication distributed to only institutional investors (except for internal communications)

All communications, regardless of category, must still meet the rule’s baseline content standards:

• Fair and balanced
• Not false or misleading
• Free of exaggerated or promissory claims

Correspondence and institutional communications can be supervised under a firm’s own risk-based procedures. Retail communications, by contrast, generally require sign-off from an appropriately qualified registered principal before they go out. This is the principal pre-use approval requirement.

Certain communications are also subject to filing requirements with FINRA’s Advertising Regulation Department, either before or shortly after first use, depending on the type of content and how long the firm has been a FINRA member.

Proposed changes: the devil is in the details

There are two big questions for broker-dealers that fall under FINRA 2210 rules:

1. What is the trigger behind this examination of the rules?
2. What might the changes be?

Why is FINRA proposing changes?

Different rules apply based on whether content is static (such as long-term communications that aren’t typically edited) or interactive (such as real-time communications that allow for live comments and chats). Static content requires approval before use, while it would be practically impossible to try and achieve the same level of oversight with interactive content.

But because of the way that social media now operates, “the line between static and interactive content has blurred”, FINRA stated its recent review. For example, a single post might start as static content and immediately become interactive once others comment on or share it.

Similarly, firms are increasingly using AI to draft, and sometimes supervise their communications. While FINRA has said that “guidance is intended to be technologically neutral and to function dynamically with evolutions in technology and members’ processes”, the regulator has realized thata blanket pre-use requirement is often impractical with the speed and volume that AI can produce communications. They’re reviewing this in order to reduce unnecessary compliance burdens without compromising on investor protection.

Proposed changes

Here are the major changes proposed by the July review:

1. Risk-based supervisory system replaced pre-use approval
2. The static-interactive content distinction is removed
3. Filing requirement changes

1. Risk-based supervisory system to replace pre-use approval

Previously, firms were required to approve every retail communication before use. Now, the proposed changes include firms creating written supervisory procedures to determine which communications require principal pre-use approval.

• Product or service complexity
• The qualifications of the person whoever created or endorsed the content
• Whether a specific promotion or recommendation is made
• Whether a third-party product or affiliate is involved
• The use of performance data, rankings or comparisons
• Distribution method
• The history of communication issues for the firm or their associated persons

Where pre-use approval is not required, firms must document the training and education of their associated persons (those creating the content), as well as supervisory procedures that determine whether these are adhered to.

What doesn’t change: the content standards. They must still be fair, balanced and not misleading.

2. Static-interactive content distinction removal

Instead of trying to classify their content into distinctive static or interactive categories, firms would use the above risk-based framework to determine the supervisory requirements for their content. Factors like the distribution method, audience targeting and the qualifications of whoever created or endorsed the content would all weigh in.

What doesn’t change: firms relying on influencers to create or distribute communications still require direct oversight and pre-use approval.

3. Filing requirement changes

There are two proposed changes to filing requirements.

Currently, new FINRA members must file retail communications for review across their first year of membership, but FINRA’s data shows that many don’t actually file for months. This puts a lot of pressure on the review, shrinking the window. Instead, the proposed new changes enable new members to start the clock from the moment they make their first filing with the Advertising Regulation Department, giving a full year review period.

Secondly, when investment companies self-publish performance rankings and comparisons, they currently must be filed before use. Because non-compliance is very low, FINRA has proposed changing this to post-use filing within 10 business days. 

Possible next steps for your firm

There is a window to comment on these proposed changes until September 11, 2026, so we would encourage all firms that have feedback to submit it. If accepted, here are the potential actions your firm would need to take:

Action	Details
Create defensible written procedures	Detail why certain communications don’t require pre-use approval
Evidence the following of written procedures	Automatic capture of this is likely to be the most efficient procedure
Document AI-generated communications	Expect to demonstrate how you validate and monitor these communications
Conduct and document compulsory training	Required as part of any communication that skips pre-use approval

For firms with a high volume of pre-use approval communications, these changes could significantly streamline your systems. Without the prescriptive rules to fall back on, compliance will become contingent on how risk-based decisions are made and monitored, meaning there is some upfront work required.

Regardless of whether your firm decides to comment, treat this proposal as a signal to start evaluating communications supervision workflows before the final rules come in. To find the right scalable, automated capturing and monitoring solution. To find the right scalable, automated capture and monitoring solution, explore Global Relay’s solutions.