With new devices making it easier than ever for brokerages to communicate with customers via e-mail, instant messages or text messages, the Financial Industry Regulatory Authority has issued detailed guidance on the review and supervision of electronic communications that mutual fund executives might want to take notice of, as well.

Basically, all communications must be documented and recorded, firms must give their brokers and reps principle-based guidance on what is permitted in electronic communications, and they must supervise these communications and be able to monitor them.

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