Tag Archives: Social Networking

FINRA Updates Guidance on Social Networking for Brokers

Posted on August 18, 2011 by in Compliance

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

Independent Broker/Dealers Warming Up To Social Media

Posted on June 18, 2010 by in Compliance

Like it or not, social media in financial services has been a recurring topic in the industry this year. The big question for FINRA-regulated registered representatives and SEC-regulated investment advisers is how to engage in social media activities without violating compliance rules (even after FINRA released its guidance on using social networking websites).

In the first significant step in the broker/dealer environment, Cambridge Investment Research announced that it plans to support their representatives’ use of social media by adopting compliance and monitoring software from Socialware.

Click here to read the announcement from Financial Planning Magazine online.

FPPad subscribers have read about Austin, Tx. based Socialware before and their tools that help advisers and representatives satisfy compliance requirements when using social media websites.

The fact that Cambridge is stepping up to the plate and giving the tentative green light to its reps means more and more financial professionals will be able to manage social media profiles to engage in conversations with clients and prospects.

Socialware Launches Social Media Archive Service, Rebrands Website

Posted on March 23, 2010 by in Compliance, Technology

I’ve made several mentions on FPPad about Socialware, an emerging provider of social media archive and policy enforcement tools, but I’ve yet to include a full feature of their services.

Today, Socialware announced several new initiatives to better serve the market of individuals and small and medium businesses (SMBs). The full announcement can be viewed on the Socialware blog.

What do these changes mean to advisers?

Read More…

FPA of Maryland Webinar to Address Compliance Issues of Social Media

Posted on March 20, 2010 by in Practice Management

Despite FINRA’s issuance of social media regulatory guidance, advisors still have many questions about what can and cannot be done on social media websites.

I’ll be presenting a webinar to the Financial Planning Association of Maryland to address the compliance issues of using social media and networking websites.

I’ll be joined by Adam Schaub, CFP®, Compliance Manager for 1st Global in Dallas, TX. Topics covered will include:

  • Documentation of policies and procedures
  • Summary of regulatory guidance
  • Supervision and record retention
  • Overview of compliance tools and utilities

The webinar will be held on Thursday, April 1, 12:00PM EDT. FPA of Maryland members can attend for $20, all others can attend for $30.

Click here for the event PDF brochure. |  Click here to register.

Get a Summary of FINRA’s Social Networking Webinar from Socialware

Posted on February 3, 2010 by in Compliance

Earlier today, FINRA held a webinar titled Compliance Considerations for Social Networking Sites. I had a schedule conflict, otherwise I definitely would have attended.

Thankfully, Chad Bockius of Socialware posted a summary of the webinar content plus the Twitter stream he generated during the event.

Click here to read Chad’s summary.

FINRA Issues Guidance to Firms, Brokers on Communications with Public Through Social Networking Web Sites

Posted on January 25, 2010 by in Technology

That’s right, FINRA just released guidance on the use of social media webistes!

Click here to read the release on FINRA’s website.

Here are several links to coverage, reviews, and feedback by folks I follow in the blogosphere and social media space:

FINRA Delays Webinar on Social Networking Guidelines

Posted on November 23, 2009 by in Compliance

I posted back in October that FINRA scheduled a webinar to discuss guidelines when using social networking websites. The webinar was scheduled for December 16, 2009.

I learned today via AdvisorTweets on Twitter that the webinar has been postponed for three months. It now is scheduled for March 17, 2010. One thing that hasn’t changed is the $50 member/$100 non-member registration fee required to attend the event.

Click the image below to connect to FINRA’s website and get the new details.

FINRA Beating SEC on Social Networking Guidelines

Posted on October 21, 2009 by in Compliance

Like them or not, FINRA is getting the jump on the SEC over issuing guidelines to registered representatives regarding the use of social networking.

FINRA is offering a compliance webinar on December 16, 2009 to cover “compliance and regulatory considerations when using social networking sites to communicate firm business.”

Why FINRA decided to charge $50 for members and $100 for non-members is beyond me. I would think they would want to make this information free to increase compliance with the guidelines set by FINRA. I digress.

Read More…

Advisor Social Networking Replay; 50 in 50 Webinar Registration

Posted on June 8, 2009 by in Practice Management

Advisor Products, Inc.Thanks to Andy Gluck at Advisor Products who hosted the webinar Advisors Using Social Networking Successfully. I really enjoyed the opportunity and have been overwhelmed by the positive feedback I’ve received about the content.

If you were not able to attend the live presentation, click here to register at Advisor Products and view the replay.

Also, you have a little more than 24 hours to register for the upcoming webinar 50 Cost-Saving and Money-Making Ideas in 50 Minutes hosted by InvestmentNews.

InvestmentNews Web Event

Click here to register for the InvesetmentNews webinar.