Compliance review is the examination of marketing materials, sales practices, client files, and product recommendations by a firmTMs compliance department or external regulators to ensure adherence to laws, regulations, and internal policies. Reviews may focus on suitability, disclosure quality, documentation of recommendations, advertising standards, and adherence to anti-money laundering and privacy rules. In the life and annuity context, compliance review is central to meeting obligations under state insurance regulations, FINRA rules, and Regulation Best Interest, helping protect clients and firms from misconduct and associated penalties.

Advisors experience compliance review when submitting advertising for approval, having files checked during branch exams, or responding to questions about specific recommendations or replacements. Compliance staff review written and electronic communications, social-media posts, and seminar content to ensure they are balanced, accurate, and free of promissory language. They may require revisions, enhanced documentation, or supervisory approval before business can proceed. Understanding compliance review helps advisors design processes that minimize friction, uphold ethical standards, and reduce regulatory and reputational risk for themselves and their firms.