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Category Archives: Social Media
Massachusetts Releases Social Media Guidance
March 02, 2012
The Massachusetts Securities Division recently released a report providing guidance on social media use by investment advisers. As we wrote earlier, the Massachusetts Securities Division has been investigating social media use by investment advisers. This investigation has resulted in the Massachusetts Securities Division issuing this report to provide guidance on the most common issues identified during their investigation.
SEC Gives Further Guidance on Social Media Use by Advisers
January 17, 2012
On January 4, 2012, the U.S. Securities and Exchange Commission’s (“SEC”) Office of Compliance Inspections and Examinations released a regulatory alert discussing the use of social media by investment advisers.
RIA Compliance Consultants Now on Facebook
October 17, 2011
RIA Compliance Consultants is excited to announce the addition of our firm’s facebook page. In the ever increasing use of social media to communicate, RIA Compliance Consultants is eager to have a simple way to keep our clients updated on compliance matters relating to your investment adviser firm.
Broker Dealers and Investment Advisers Need to Have Policies and Procedures in Place for Social Media Use
October 04, 2011
A recent FINRA enforcement action highlights the need for broker dealers and investment advisers to implement policies and procedures for social media use. FINRA alleged the registered representative created websites related to her firm without obtaining firm approval, on several occasions she falsely stated online that she was not affiliated with any broker dealer, and she was using her Twitter account to give stock recommendations without making the necessary disclosures. As a result of this alleged conduct, FINRA fined her $10,000 and suspended her from associating with a broker dealer for one year.
The Use of Social Media Sites Can Create Compliance Problems for Registered Investment Advisers
September 27, 2011
Social media sites such as Facebook, Twitter, and LinkedIn can be useful business tools for investment advisers. However, there are several compliance issues that social media sites present.
Massachusetts Investigating Social Media Use By Investment Advisers
September 22, 2011
The Massachusetts Securities Division recently sent out a survey to track use of social media by investment advisory firms for business purposes. The survey not only asked about social media use but asked whether investment advisory firms have supervisory policies and procedures in place for social media supervision and record retention.
Broker Dealers and Investment Advisers Need to Have Policies and Procedures in Place for Social Media Use
August 26, 2011
A recent FINRA Action highlighted the need for broker dealers and investment advisers to implement policies and procedures for social media use. FINRA brought this action because the registered representative had created websites related to her firm without obtaining firm approval, on several occasions she falsely stated online that she was not affiliated with any broker dealer, and she was using her Twitter account to give stock recommendations without making the necessary disclosures. As a result of this conduct, FINRA fined her $10,000 and suspended her from associating with a broker dealer for one year.
Connect with the Facebook Page of RIA Compliance Consultants
August 10, 2011
RIA Compliance Consultants has set up a Facebook page (www.facebook.com/riacompliance) to maximize our ability to communicate with investment advisors.
