Open with a light purpose — “intro,” “potential synergies,” “learn about your plans.”

“We saw [Prospect Co.] is expanding in healthcare SaaS and thought a brief chat might be mutually useful.”

Personalize one line so it sounds like a conversation, not a blast.

“Congrats on your Series B funding last month.”

Ask for a meeting, nothing more; one clear call-to-action.

“Would a quick 15-minute call next week work?”

Identify yourself & the firm (name, title, firm, “Member FINRA/SIPC”).

Signature block with complete details (perhaps a firm logo)

Include CAN-SPAM basics — physical address and a one-click unsubscribe link.

“Acme Securities LLC · 123 Market St · New York, NY 10005 · Unsubscribe”

Add BrokerCheck link if you name a registered rep.

“Check my background on BrokerCheck.”

Route the send through your 17a-4 archive so every copy is saved for six years.

(Back-office setting)

Let compliance spot-check a sample each quarter and document it.

(Written supervisory procedures)

Product names or descriptions – “TreasuryPlus fund,” “our equity research platform,” “our M&A advisory services.”

Starts promoting a product or service → full retail-communication rules.

Any numbers – yields, returns, fees, performance charts, AUM.

Counts as investment information that must be substantiated and pre-approved.

Promises / guarantees – “beat the S&P,” “guaranteed 8 %.”

Misleading content; FINRA will red-flag.

Urgency hype – “Act now,” “limited-time offer,” “don’t miss out.”

Considered promotional language.

Comparisons or rankings – “top-quartile manager,” “best-in-class execution.”

Requires backup data and often FINRA filing.

Omit unsubscribe or physical address

Violates CAN-SPAM; regulators fine first, ask later.

Deceptive subject lines – subject says “Re: your account” when there was no prior email.

Violates both FINRA fairness standard and CAN-SPAM.

Attachments/brochures that pitch

Attachments are part of the communication and will void the exemption.

GOOD

BAD

“I’d value a short conversation to learn about your priorities.”

“Our TreasuryPlus fund is yielding 4.75 % — let me show you how to invest.”

“We noticed your recent expansion and think there may be synergies.”

“We can cut your FX costs by 30 % — schedule a demo.”

“Are you free for a 15-minute call next week?”

“Lock in these returns before rates fall.”

Signature: “Jane Smith, Acme Securities LLC, Member FINRA/SIPC, 123 Market St, NYC 10005.”

Signature missing address or unsubscribe link

Problem

Consequence

Mentions a specific product (“TreasuryPlus Money-Market Fund”).

Becomes promotional; pre-use principal approval required.

Quotes performance (“7 %”) and even calls it “guaranteed.”

Needs substantiation, standardized disclosures, risk language, and likely FINRA filing.

Urgent sales hype (“Last Chance,” “lock it in!”).

Considered misleading if risks aren’t equally prominent.

No physical address, no BrokerCheck link, no unsubscribe link.