FINRA Wants to Drop Pre-Approval for Some Communications. What It Means for AI-Written Content
Prices and facts checked October 13, 2026. We don't accept payment for rankings.
On this page
What happened: on July 9, 2026, FINRA published Regulatory Notice 26-14, proposing the biggest overhaul of its communications rule, Rule 2210, in more than a decade. Its centerpiece would replace mandatory principal pre-use approval of retail communications with written, risk-based procedures, and it explicitly addresses AI-generated communications. Comments closed on September 11, 2026 (FINRA).
Why it matters today: firms are now reviewing the comment letters, and FINRA has not set a timeline for a final rule (Smarsh, Sep 23, 2026). If adopted, it would change how broker-dealers supervise the flood of AI-drafted emails, posts and newsletters. Nothing changes yet: current rules, including pre-use approval for retail communications, still apply.
Not legal advice. This is a proposal. Follow your firm's written supervisory procedures and current FINRA rules.
What the proposal would change
| Area | Today | Proposed |
|---|---|---|
| Retail communications | Principal must approve before use | Firm decides which need pre-use approval, using written risk-based procedures plus training, documentation and surveillance |
| Social media | Interactive vs static content treated differently | Distinction removed; finfluencer qualifications and conflicts considered instead |
| AI-generated content | Covered by the general rules | Pre-use approval acknowledged as hard to apply at AI speed and volume; AI tools allowed in supervision if vetted, tested and monitored |
| Past recommendations | Specific (d)(7) requirements | General "fair and balanced" standard, closer to the adviser rules |
| Fund rankings filings | Filed before first use | Filed within 10 business days of first use |
Source: FINRA Regulatory Notice 26-14.
What doesn't change: the content standards. Communications must still be fair, balanced and not misleading.
The eight risk factors
FINRA lists non-exhaustive factors firms would use to decide what still needs pre-approval, including product complexity, the preparer's qualifications, whether the piece recommends or promotes, whether it's tailored to an audience, whether it includes performance data, and the medium (FINRA). An AI-drafted market commentary to all clients scores very differently from an AI-drafted performance comparison for a complex product.
What FINRA says about AI
The notice recognizes that AI produces communications at a speed and volume that make pre-use approval hard to apply. Generative AI tools can be part of a reasonably designed supervisory system if they're vetted, tested and monitored, and firms can consider the qualifications of the people overseeing the AI (FINRA).
That matches FINRA's existing position: the firm is responsible for AI-created communications just as for human ones (FINRA Advertising FAQ), and its rules are technology-neutral (Regulatory Notice 24-09).
What the industry said
Archiving vendor Smarsh urged FINRA to keep the rule technology-agnostic but give more AI detail. It suggested testing 50–100 samples with under 5% factual error for content-generation tools, monitoring by risk tier, and treating AI governance records as supervisory records with six-year retention (Smarsh comment letter). Other commenters asked for more guidance on documenting risk-based supervision, including for AI-assisted communications.
What to do now (before any final rule)
- Inventory every AI touchpoint in communications: CRM drafts, notetaker follow-ups, social tools, marketing platforms, surveillance tools (Smarsh).
- Classify by risk using FINRA's factors. Performance, recommendations and complex products sit at the top.
- Baseline-test your AI tools against communications already reviewed, and record false positives and negatives.
- Re-test after vendor model updates.
- Write it into your WSPs: who approved each tool, who supervises it, and how.
- Keep pre-approving retail communications until a final rule takes effect.
Our guide to AI-written marketing under FINRA and SEC rules covers the current requirements in detail.
FAQ
Does this apply to RIAs?
No. Rule 2210 is a FINRA rule for broker-dealers. Dually registered advisors deal with both FINRA rules and the SEC Marketing Rule.
When would it take effect?
FINRA hasn't said. After reviewing comments it would need to file a rule change with the SEC, which adds months.
Can I stop pre-approving AI emails now?
No. Correspondence and retail communications follow the current rules until a new rule is approved and effective.
Sources
Pages we used for this article, checked on or before the update date above.
- FINRA · finra.org
- Smarsh, Sep 23, 2026 · smarsh.com
- FINRA Advertising FAQ · finra.org
- Regulatory Notice 24-09 · finra.org
- Smarsh comment letter · finra.org
Changelog: Oct 13, 2026: first published.