Finra unveils guidelines for social media and blog
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Finra unveils guidelines for social media and blogging
Basically, FINRA is putting the kabosh on the use of social media by individual FA's. It requires the firm to establish policies for monitoring and approval of content, and no B/D is going to take responsibility for monitoring individual FA's social networking posts. Now, I can see soem B/D's getting involved with social networking at the corporate level, and designing their own content for sites, but I doubt use will become widespread by individuals. http://www.investmentnews.com/apps/pbcs.dll/article?AID=/20100125/FREE/100129938I haven’t read this yet…because I’m not under the boot of FINRA (for the most part). Does this cover personal sites, like Facebook?
This was a hot topic at the recent Compliance-polooza I attended.No big deal. You can’t use Facebook etc for business use. You want to post your family pics or chat with your friends - fine. If you want to prospect, give finanicial advice, or recommend stocks on your myspace page you will have a problem.
Can you post the company you work for such as in your “profile”? Can you link back to your corporate website?
Personally, I’m using it alot - but mainly to network and pick the brains of other RIA Compliance people.
The answer to that is most likely to be NO. Depending on what company you work for, if not independent, that may already be against the policy.Can you post the company you work for such as in your “profile”? Can you link back to your corporate website?
I don't use Facebook, even personally. Do they have "groups" that you can join like LinkedIn? Is it a business account or personal account?Personally, I’m using it alot - but mainly to network and pick the brains of other RIA Compliance people.