The following is not meant to be legal advice.
What is the Certified Life Underwriter (CLU) designation on business cards? According to the NASD, it is ok for a representative to have designations on a business card as long as there is clarity regarding the relationship of the representative to the member firm, and there is no conflict of interest with what the person is doing as an investment specialist. The card cannot be confusing to the public.
When dealing with prospectuses, the representative should also not keep prospectuses for more than 13 months. It is up to the representative to obtain updated prospectuses, not the firm that he/she is with. When the representative obtains the new prospectuses, he/she is suppose to throw away the old prospectuses, not keep them as backup in case the new prospectuses run out.
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