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#39281 - 10/28/02 09:30 PM NDIP / seminar
Summer101 Offline
Platinum Poster
Joined: Jun 2001
Posts: 644
A bank is offering several types of seminars ranging from retirement planning to mortgage loans. A couple of the retirement seminars will deal with NDIPs such as annuities, long term care ins, etc. A couple seminars will deal with bank deposit products such as IRAs, internet banking, etc. They plan on including the Member FDIC and EHL logos. Would it be advisable to include the 5 "nots" in reference to the seminars on NDIPs and separate them since they list some of the products in the seminar description?

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#39282 - 10/28/02 10:47 PM Re: NDIP / seminar
KSK Offline
Gold Star
Joined: Jul 2001
Posts: 357
First - I'm only familiar with the "Not-No-May" (Not FDIC Insured - No Bank Guarantee - May Lose Value) What are the others that you include in your "5 Nots"?

Second - Adding the FDIC and EHL logos to to the NDIP Seminar information could be misleading and probably not sit well with any of the regulators that may get their hands on it. I would suggest separating it into stwo or more pieces or at least formatting the information on the one piece to make a clear distinction which products or services are covered under the FDIC/EHL and which ones are not.

Third - I'm guessing that the seminar information will meet the definition of advertising in which case the information must be sent to the NASD. Whether it is your broker/dealer sub or a 3rd party service provider, whoever is the NASD member will be the one responsible for NASD submission of the advertising.

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