A registered representative holds a seminar for $40$ prospective retail clients covering the benefits of investing in mutual funds. At the mee a table with canvas bags embossed with the member firm's logo that includes a prospectus for each fund that was discussed, a brochure the registered representative's business card. At the end of the meeting, the prospective clients are encouraged to take a bag home. Whi

A Because the event is considered a public appearance, this communication is subject to review and post$-$use approval by principal.

Because the seminar was attended by $40$ prospective retail clients, a principal must present at the event.

Because the meeting was held for prospective retail clients, communication rules do not apply.

Because the representative personally delivered the seminar, it is defined as a retail communication.