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FINRA Rule 3110 (Supervision) FINRA Rule 3110 requires a firm to establish and maintain a system to supervise the activities of its associated persons that is reasonably designed to achieve compliance with the applicable securities laws and regulations and FINRA rules.

In particular, the Financial Industry Regulatory Authority (?FINRA?) and member firms are cracking down on improper communication recordkeeping practices and the use of non-firm applications, including text messages, to communicate with clients.

Except as otherwise provided by paragraph (b), each general securities member shall, with a frequency of not less than once every calendar quarter, send a statement of account ("account statement") containing a description of any securities positions, money balances, or account activity to each customer whose account ...

FINRA Rule 4511 (General Requirements) requires firms to: (1) make and preserve books and records as required under the rules of FINRA, the Exchange Act and the applicable Exchange Act rules; and (2) preserve the books and records required to be made pursuant to the FINRA rules in a format and media that complies with ...

FINRA Rule 3110 requires a firm to establish and maintain a system to supervise the activities of its associated persons that is reasonably designed to achieve compliance with the applicable securities laws and regulations and FINRA rules.

FINRA Rule 2210 requires, among other things, that all communications be based on principles of fair dealing and good faith, be fair and balanced, provide a sound basis for evaluating the facts ?in regard to any particular security or type of security, industry, or service? and include all ?material fact[s] or ...

(a) Supervisory System Final responsibility for proper supervision shall rest with the member. A member's supervisory system shall provide, at a minimum, for the following: (1) The establishment and maintenance of written procedures as required by paragraphs (b) and (c) of this Rule.