Financial Industry Regulatory Authority, Inc. Rule 2210 requires member firms to file certain communications with FINRA’s Advertising Regulation Department, including retail communications. The Rule 2210 filing requirements apply to “research reports” to the extent that they constitute retail communications that are required to be filed pursuant to Rule 2210. “Research reports” are any written (including electronic) communications that include an analysis of equity securities of individual companies or industries, and that provide information reasonably sufficient upon which to base an investment decision. The definition specifically excludes certain types of communications, such as discussions of broad-based indices or commentaries on economic, political or market conditions. On July 26, the Securities and Exchange Commission approved amendments to Rule 2210 that exclude from Rule 2210’s filing requirements research reports concerning only securities listed on a national securities exchange, other than research reports which must be filed pursuant to Section 24(b) of the Investment Company Act of 1940, as amended.