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FINRA guidance may help RIAs avoid social media blunders

Even employees' LinkedIn profiles ought to be supervised

Author Les Abromovitz, Guest Columnist February 26, 2010 at 7:49 AM
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Les Abromovitz: When the SEC takes a stand on social media, it is likely to reach many of the same conclusions

Chad Bockius

Chad Bockius

February 26, 2010 — 2:20 PM

Les – great post.

As you point out FINRA mentions “Because social media like LinkedIn, Twitter and Facebook contain a mixture of static content and interactive functions, firms should treat them differently.” As you peel back the onion on these sites you realize that the compliance issues are many and often unique to each site. For example, using LinkedIn Recommendations as part of your profile. Or take favoriting a Tweet on Twitter. In the process of clicking that little star you just endorsed a third party post.

RIA’s that are going to take the step into social should first work to better understand the nuances of each site. In addition, they should explore automated social networking compliance solutions. If you are interested in learning more you should check out the Companion Guide to FINRA Social Networking Compliance <a href="http://bit.ly/8xT73y">http://bit.ly/8xT73y</a>. It picks up where Notice 10-06 leaves off, offering additional detail on social networking considerations and a checklist of requirements for choosing a social networking compliance vendor.


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