Thanks for thinking of me Peter.  As a former corporate records manager of an SRO (Self Regulatory Organization) that oversaw the industry, I was not involved in enforcing SEC Rules 17a-3 and 17a-4.  My concerns were in Rules 17a-1 and 17a-6, relating to the records of an SRO.  That being said, and the usual - I'm not a lawyer and records managers and RM consultants do not give legal advice I do have an opinion on this topic.

As Julie noted the e-mail blasts by a third party might be considered an advertisement, much like a TV or radio spot, or newspaper or magazine ad.  As was noted later by another, records relating to these should be retained under the normal schedule for advertising.  I will note that the SRO I worked for did examine broker/dealer advertising so there are applicable rules in that realm as well. Good idea to keep a copy of the addresses list.  As was further noted, once a reply is made (be it through redirected reply address or through an embedded link) to the actual broker/dealer, then the broker/dealer retention rules apply to those applicable communications.

Tod Chernikoff, CRM
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From: "Peter Kurilecz" <[log in to unmask]>
Sent: Thursday, February 11, 2010 21:32
To: <[log in to unmask]>
Subject: Re: [RM] Email Marketing Campaign for Broker Dealers

On Thu, Feb 11, 2010 at 7:49 PM, <[log in to unmask]> wrote:

1. Does this kind of email really apply to the 3 year rule?  Typically these "blasts" are one-way communications; there is no way for the recipient to reply or "do business", at least not without redirecting/forwarding to your official email domain by typing in a valid address at your company.

Peter said:

I agree with Julie I think these are more marketing pieces. The rule really applies, as I understand, to actually communications between a broker and their customer especially when the communication is a buy or sell order. 

Hopefully Tod Chernikoff will chime in as he used to work in that arena
Peter Kurilecz CRM CA
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