Exclusive presentation forSMART session – December 17, 2012                                                  Social Media ...
Social Media & Financial ServicesAgenda •   Overview and introductions •   The 5 questions℠ •   Social media tools – estab...
Social Media Strategy for Financial Services                       for US Firms• Can you use social media in financial ser...
Before asking “Which social media tools should I use?”              answer these 5 questions℠     1. Who are you?     2. W...
The5 questions℠                      Employee, business-line owner, 1. Who are you?      industry executive, wealth       ...
The5 questions℠                     Email (home or work) 4. How do they      Voicemail  WANT to be         Phone text r...
The5 questions℠- with your answers1. Who are you?2. What do you have to say?3. Who are you trying toreach?4. How do they W...
Paper and electronic communications must be archived
Social media communicationsSocial media compliancesoftware needs to be in place tomonitor and archive socialmedia posts
Social Media Tools – established and emerging  Launched: 2002    2004           2005        2006       2009         2009  ...
US Regulations and Guidance: Use of Social Media                                Investment Advisors and Broker-DealersReco...
Highlights - US Regulations and Guidance:                            Record Retention Securities and Exchange Commission ...
Highlights - US Regulations and Guidance: Record RetentionSEC Rule 17a-4Amendments to Books and Records Requirements for B...
Highlights - US Regulations and Guidance: Record Retentionhttp://www.sec.gov/about/offices/ocie/riskalert-socialmedia.pdfS...
Highlights - US Regulations and Guidance:     Electronic Communications &Social Media Use Regulatory Notice 07-59 Supervi...
http://www.finra.org/web/groups/industry/@ip/@reg/@notice/documents/notices/p037553.pdf
http://www.finra.org/web/groups/industry/@ip/@reg/@notice/documents/notices/p120779.pdf
http://www.finra.org/web/groups/industry/@ip/@reg/@notice/documents/notices/p124186.pdf
http://www.finra.org/web/groups/industry/@ip/@reg/@notice/documents/notices/p127014.pdf
How to get started with a social media pilot program
Social Media Pilot Project Planning        Include at the Business Initiation / Evolution stages Identify social media pro...
Suggested Next StepsSocial media policy Become familiar with your firm’s social media policy Get to know the group worki...
Suggested Next StepsLearn the social media regulatory basics Get to know your legal and compliance department Discuss ho...
Thank you!              Please connect with me.              I would enjoy hearing from you.                              ...
Social Media Strategy and Program             Management Services             oSocial media seminars for regulated        ...
Exclusive presentation forSMART session – December 17, 2012                                                Social Media & ...
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Joyce Sullivan talks Social Media and Financial Services with JPMorgan Chase & Co SMART program

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This JPMorgan Chase SMART session will focus on the intersection of social media and financial services. With the exponentially increasing use of social media around the globe, by individuals and organizations, the financial services industry has an additional challenge in ensuring social media use follows regulatory and compliance guidance.

Understanding who your audience is and how they want to engage, are essential components in putting together a social media plan. Ensuring the compliance element is effectively integrated is also critically important for an effective and successful program.

The session will be led by Joyce Sullivan, who transformed herself from a financial services industry veteran running global enterprise-level programs and technology deployments, to becoming a pioneer in the emergence of social media use in the financial services industry.

In this session, we’ll review the following:

What are the major social media platforms, emerging and established, and how financial firms are approaching their use
Latest U.S. regulatory rules and compliance guidance for social media use in financial firms
How to identify your audience and their preferred means to connect in developing a compliant social media engagement program
Engaging key stakeholders and project champions for a social media pilot program
How to know if a social media program can benefit your business

Background on our presenter:


Joyce Sullivan MBA PMP and founder and CEO of SocMediaFin, Inc., brings together her years of financial services industry experience to the emerging world of social media. She has more than over 20 years of program management and product development experience with firms including, Citi, Credit Suisse, JPMorgan Chase, and Wells Fargo/First Fidelity. As an advisory board member of the Financial Women’s Association, Joyce serves as their Chief Digital Strategist. Joyce has spoken at numerous industry conferences about the convergence of social media and financial services. As an enthusiastic Silicon Alley (NYC) emerging technology beta tester and evangelist, Joyce is an active member of the New York Tech community and is a founding mentor of Women Innovate Mobile, a startup accelerator and mentorship-driven program designed for women-founded companies in mobile technology.

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Joyce Sullivan talks Social Media and Financial Services with JPMorgan Chase & Co SMART program

  1. 1. Exclusive presentation forSMART session – December 17, 2012 Social Media & Financial Services Created and presented by: Joyce Sullivan Founder and CEO SocMediaFin, Inc.
  2. 2. Social Media & Financial ServicesAgenda • Overview and introductions • The 5 questions℠ • Social media tools – established and emerging • U.S. compliance and regulation overview • Getting started with social media training & pilot programs • Suggested next steps • Discussion and questions
  3. 3. Social Media Strategy for Financial Services for US Firms• Can you use social media in financial services?• Are there certain social media tools that are recommended?• What are the regulations and compliance rules? ▫ The fun stuff - FINRA and SEC regulatory guidance• Where can you get training to learn social media and financial services basics?• Are there steps for creating a project plan including social media?
  4. 4. Before asking “Which social media tools should I use?” answer these 5 questions℠ 1. Who are you? 2. What do you have to say? 3. Who are you trying to reach? 4. How do they WANT to be reached?... or not 5. Once you connect, then what?
  5. 5. The5 questions℠ Employee, business-line owner, 1. Who are you? industry executive, wealth manager, private banker Great skills, great products,2. What do you have excellent company to work with, to say? outstanding service 3. Who are you Your current customer, trying to reach? potential new customer, industry leaders, competitors
  6. 6. The5 questions℠  Email (home or work) 4. How do they  Voicemail WANT to be  Phone text reached? ... Or  Instant message not.  Twitter  LinkedIn  Facebook  (public or private message) 5. Once you are How do you developready to connect, meaningful connections then what? while complying with industry regulations?
  7. 7. The5 questions℠- with your answers1. Who are you?2. What do you have to say?3. Who are you trying toreach?4. How do they WANT to bereached?5. Once you are ready toconnect, then what?
  8. 8. Paper and electronic communications must be archived
  9. 9. Social media communicationsSocial media compliancesoftware needs to be in place tomonitor and archive socialmedia posts
  10. 10. Social Media Tools – established and emerging Launched: 2002 2004 2005 2006 2009 2009 2011 2011And many more…
  11. 11. US Regulations and Guidance: Use of Social Media Investment Advisors and Broker-DealersRecordkeeping it’s the content that matters All business communications whether transmitted by desktop, smart phones (Blackberry, Android, iPhone etc), tablets (iPads) etc. must be retained - letters, emails, all written communication - instant messages, social media messages (LinkedIn email, Facebook posts, Tweets) - social media activities (Likes on Facebook, Retweets on twitter, posts on LinkedIn)Disclosuresproper disclosures for relationships you may develop e.g. bloggers, advertisers, affiliatesAdvertising static advertising requires preapproval interactive advertising can be post review but not, “Days after the fact”Communication with the public must adhere to existing content standards Suitability – know your customer, only make recommendations suitable for your clientsSupervisionfirms must demonstrate they are supervising written communicationsTrainingregistered personal be trained before they start using social mediaSimilar overall for - FINRA, SEC (US), IIROC (Canada), SEBI (India) and FAS (UK)
  12. 12. Highlights - US Regulations and Guidance: Record Retention Securities and Exchange Commission (SEC) 1934  Amendments to Books and Records Requirements for Brokers and Dealers  May 2003  National Examination Risk Alert - Investment Advisor Use of Social Media  January 2012
  13. 13. Highlights - US Regulations and Guidance: Record RetentionSEC Rule 17a-4Amendments to Books and Records Requirements for Brokers and Dealers Under theSecurities Exchange Act of 1934http://www.sec.gov/rules/final/34-44992.htmEffective: May 2, 2003Same recordkeeping requirements with guidance for electronics records
  14. 14. Highlights - US Regulations and Guidance: Record Retentionhttp://www.sec.gov/about/offices/ocie/riskalert-socialmedia.pdfSame recordkeeping requirements with guidance for social media andelectronic devices
  15. 15. Highlights - US Regulations and Guidance: Electronic Communications &Social Media Use Regulatory Notice 07-59 Supervision of Electronic Communications (2007) Regulatory Notice 10-06 Guidance on Blogs and Social Media Websites (2010) Regulatory Notice 11-39 Guidance on Electronic Devices (2011) Regulatory Notice 12-29 New Rules Governing Communications With The Public (effective Feb 4, 2013)
  16. 16. http://www.finra.org/web/groups/industry/@ip/@reg/@notice/documents/notices/p037553.pdf
  17. 17. http://www.finra.org/web/groups/industry/@ip/@reg/@notice/documents/notices/p120779.pdf
  18. 18. http://www.finra.org/web/groups/industry/@ip/@reg/@notice/documents/notices/p124186.pdf
  19. 19. http://www.finra.org/web/groups/industry/@ip/@reg/@notice/documents/notices/p127014.pdf
  20. 20. How to get started with a social media pilot program
  21. 21. Social Media Pilot Project Planning Include at the Business Initiation / Evolution stages Identify social media program key stakeholders and senior management champions  Pilot proposal  Social media integration  Integrate social media throughout business and system development life cycle Include legal, compliance and social media training teams as key stakeholders
  22. 22. Suggested Next StepsSocial media policy Become familiar with your firm’s social media policy Get to know the group working on social media training  Rachel Polish is your social media training lead Volunteer to partner with a team working on social media planningSocial media training Include social media training for employees and staff Types of social media training you’re looking for  contact Rachel Polish with your ideas Assist pilot team in co-creating social media training modules Eventually empower employees to support and protect your brand
  23. 23. Suggested Next StepsLearn the social media regulatory basics Get to know your legal and compliance department Discuss how together you can come up with a pilot program Engage senior stakeholders and functional groups fora pilotKeep up with the competitive landscape Participate in and attend industry events to stay current
  24. 24. Thank you! Please connect with me. I would enjoy hearing from you. JoyceLinkedIn http://linkedin.com/in/joycemsullivanAbout.me http://about.me/joycemsullivanTwitterhttp://twitter.com/joycemsullivanWebsite http://socmediafin.comemail: joyce@socmediafin.com 24
  25. 25. Social Media Strategy and Program Management Services oSocial media seminars for regulated industries, specializing in financial services oProgram management services – enterprise business and technology reengineering oSocial media training and staff development oIndustry executives and senior leadership programs in social media oKeynote speaker for company events and industry conferencesVisit us >SocMediaFin.com
  26. 26. Exclusive presentation forSMART session – December 17, 2012 Social Media & Financial Services Created and presented by: Joyce Sullivan Founder and CEO

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