Today, FINRA released updated guidance on brokers’ use of social media sites, clarifying items surrounding recordkeeping, suitability, supervision and content requirements for such communications.
The latest guidance is Regulatory Notice 11-39 and can be viewed on FINRA’s website.
Click here to view the notice on FINRA.org.
My summary: This notice deals with “personal devices for business communications,” i.e. tweeting with a personal smart phone. To simplify, yes, brokers can use personal smart phones and tablets to post social media updates provided they are:
- trained on what’s allowed and prohibited according to the firm’s policies and procedures
- using devices that do not automatically delete content
- adequately supervised (perhaps by random spot checks) by registered principals
