What is sales literature?
The definition of sales literature is broad, which may explain why some registered representatives mistakenly include some elements of sales literature in client correspondence. The NASD defines sales literature as: “Any written or electronic communication, (other than an advertisement, independently prepared reprint, institutional sales material and correspondence), that is generally distributed or made generally available to customers or the public, including circulars, research reports, market letters, performance reports or summaries, form letters, telemarketing scripts, seminar texts, reprints (that are not independently prepared reprints) or excerpts of any other advertisement, sales literature or published article, and press releases concerning a member’s products or services” ( NASD Rule 2210). When Correspondence Becomes Sales Literature The financial services industry is notorious for maximizing every opportunity to promote its lineup of products and services to clients. Cros
