The Social Media
Policy

Blane Warrene
SVP, Customer Communications
1

Tweet = During (and after) the
webinar, please use #regedqanda
for live discussion

2

Questions? Please use Questions
...
 Getting Started on Social is driven by strategy and policy
 Who, What, When, Where and How?

 Your Policy is a Busines...
But first…

Where do we start?
The Problem?
 Who is authorized?
 Which platforms
 Your governance and
ethics

 Approved technology
 Signed affirmati...
Who is the next generation?

Social = Sharing
It’s about
Learning and Engagement
Conversation and Community
Don’t be too r...
Who is the next generation?

Model for Content
Digital
Marketing
Digital
Events
(webinars)

Social
Platforms

Web
site and...
Who is the next generation?

Anticipate Mediums
Text+

Audio
Video
Interactive
Core of the Policy
Training
Attestation
Archiving
Monitoring
Governance
 Outline regulations to meet

Identify FINRA
& SEC Rules
that Apply

‒ Retention and Surveillance
‒ Review and...
Compliance Landscape
Guidance from FINRA & SEC
2010 through 2012
Now Live! FINRA12-29
(February 2013)
Best Practice:
– Soc...
What Changed in 2013
Trigger
was Netflix
March 15th
- SEC
April 2nd SEC
The SEC Links…

March 15th http://1.usa.gov/146Dsyn
nd
2

April
http://1.usa.gov/174oQDR
FINRA Comments May 2013…
While there are a few main things firms and advisors need to address, including
record keeping, s...
Choosing Technology
1 Archive and Retain
How do you collect data?

2 Reporting automation
Surveillance and Ad Hoc tools

3...
Systematic Steps of Social Media
Train

Best
Practice

Adapt

Monitor

Tech
Tools
A Resource from Us
Ask us for our Compliance Kit
http://bit.ly/complykit
Resources
Educational Podcast - http://bit.ly/regedsocial
“The Social Media Minute” on iTunes
Breaking Barriers to Social ...
Connect with Us on Social
Facebook – http://www.facebook.com/regedarkovi
Google+ - http://bit.ly/regedgoogle
LinkedIn - ht...
Q&A
Please use the "Questions" section
on the webinar panel
And we'll stay and monitor #regedqanda on
Twitter
RegEd's Breaking Barriers Webinar Series - the social media policy
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RegEd's Breaking Barriers Webinar Series - the social media policy

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A continued discussion from our Basics webinar series - the makeup of the social media policy in financial services.

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  • An introduction to me – as you can see my world’s converge on social media – I have friends, peers, colleagues, family members, executives and customers connecting and engaging. By default 20% of our networks no matter where we are – contain work relationships. Managing these networks in a digital world is exactly like we manage those same networks in person:We choose what we say to each networkWe have a filter that we naturally use in discussionsSome networks converge and others are in groups (think Circle, Lists, Groups…)The time we might spend trying to separate those networks in the digital world is lost time we could have spent cultivating relationships
  • Using social media effectively – at the highest level – breaks down into these segments. They are related and circular – but each have a place and process to our overall goal. Modern communications is simply new efficiencies that allow us to ultimately get to what we do best – build relationships and serve others. Our goal remains the same:To represent ourselves personally and professionallyTo foster strong relationshipsTo earn the opportunity to meet or speak on a personal levelTo facilitate trust that allows us to do business with one another
  • The next generation is not going to listen on traditional channels – phone or even email – they communicate amongst their peers and anticipate (expect) you will learn how to tune in to their channels. They won’t hear the phone ring – but they will see the modern communication – tweet, wall post or text message…
  • The next generation is not going to listen on traditional channels – phone or even email – they communicate amongst their peers and anticipate (expect) you will learn how to tune in to their channels. They won’t hear the phone ring – but they will see the modern communication – tweet, wall post or text message…
  • Guidance came in slow increments – but did grow in substance. Just as we all explored and observed social – and had experiments, pilots or regular use – we learned how to navigate and leverage social- - and developed our best practices while learning from others.The regulators have done the same – and have, perhaps more slowly than we wanted, evolved their view and guidance. Now we see 3 years later that it has come full circle with plenty of clarity.
  • Reed Hastings posted in July 2012 a statement about the use of Netflix (one billion hours streamed) on Facebook. The SEC went straight to a Wells Notice. However – this case evolved and served as a trigger for the evolution of Reg FD.On April 2 – the SEC discussed this at length and clarified that because of the market uncertainty over Reg FD and Social Media – this became much more effective for applying to all of our business. Of course this drives us back to that regulation to insure we follow it but allowing companies to define where they offer public information about their organizations. While in this specific case we are talking of public companies – this also applies to industry firms who offer direction, guidance and narrative on their organizations. March 15th was also a huge leap for the industry – clarifying how to handle what should be pre-reviewed and submitted versus incidental discussions with product mentions or use of the word performance, for example. You can say things like “we document the performance of product xx and it can always be found at this link” or “Understanding how Product XX works – you can refer to this detailed information that is available via TBD..”
  • Like the business plan for your groups and practices – once you have strategy defined – you have a plan for how to begin, execute and manage ongoing.This is no different and can benefit from all you do surrounding social media – your web site, your email communications, what you discuss on calls or in presentations. Also look to how you interact on other fronts:Do you teach on webinars or seminars?Are you a resource for journalists or analysts?Do you volunteer to teach personal finance or financial literacy?What other ways is “content” generated in your business?This leads to the material we use on social – and you may be surprised by how much you have…By bridging this information and content to a simple editorial calendar – you can map out segments of days, weeks and months. If you would like a simple template – just ask us..
  • RegEd's Breaking Barriers Webinar Series - the social media policy

    1. 1. The Social Media Policy Blane Warrene SVP, Customer Communications
    2. 2. 1 Tweet = During (and after) the webinar, please use #regedqanda for live discussion 2 Questions? Please use Questions box in the webinar panel 3 The webinar recording will be emailed to all attendees and registrants
    3. 3.  Getting Started on Social is driven by strategy and policy  Who, What, When, Where and How?  Your Policy is a Business Plan ‘AND’ Governance Document
    4. 4. But first… Where do we start?
    5. 5. The Problem?  Who is authorized?  Which platforms  Your governance and ethics  Approved technology  Signed affirmations  Mitigation & Management
    6. 6. Who is the next generation? Social = Sharing It’s about Learning and Engagement Conversation and Community Don’t be too restrictive…
    7. 7. Who is the next generation? Model for Content Digital Marketing Digital Events (webinars) Social Platforms Web site and blog
    8. 8. Who is the next generation? Anticipate Mediums Text+ Audio Video Interactive
    9. 9. Core of the Policy Training Attestation Archiving Monitoring
    10. 10. Governance  Outline regulations to meet Identify FINRA & SEC Rules that Apply ‒ Retention and Surveillance ‒ Review and Monitoring ‒ Broad Search – rogue accounts, complaints… Define Monitoring Methods  Written Supervisory Procedures  Lexicons and Searches  Pre-Approving Content
    11. 11. Compliance Landscape Guidance from FINRA & SEC 2010 through 2012 Now Live! FINRA12-29 (February 2013) Best Practice: – Social Media Policy – Archive Content and Engagement – Reporting and Monitoring Tools
    12. 12. What Changed in 2013 Trigger was Netflix March 15th - SEC April 2nd SEC
    13. 13. The SEC Links… March 15th http://1.usa.gov/146Dsyn nd 2 April http://1.usa.gov/174oQDR
    14. 14. FINRA Comments May 2013… While there are a few main things firms and advisors need to address, including record keeping, supervising business communications and content requirements, generally the rules shouldn’t be too hard to follow, says Joe Price, the senior vice president of corporate financing and advertising regulation for FINRA “I don’t think the rules of the road are overly complex,” he says. “There are pretty straight forward principles to apply.” Price acknowledges the rules are not hard and fast, but says they were purposefully designed to be flexible to keep up with a rapidly changing environment. Price gave an example of where the flexibility comes into play: An advisor having to “like” a page to participate in a conversation doesn’t necessarily mean that the advisor “likes” all the content on there. “It’s not that hard if you keep the principles in mind,” Price adds.
    15. 15. Choosing Technology 1 Archive and Retain How do you collect data? 2 Reporting automation Surveillance and Ad Hoc tools 3 Monitoring Monitor, study and analyze
    16. 16. Systematic Steps of Social Media Train Best Practice Adapt Monitor Tech Tools
    17. 17. A Resource from Us Ask us for our Compliance Kit http://bit.ly/complykit
    18. 18. Resources Educational Podcast - http://bit.ly/regedsocial “The Social Media Minute” on iTunes Breaking Barriers to Social Webinar Series http://bit.ly/regedwebinars Quick Start Guides on Social Media http://www.reged.com/socialmedia.aspx
    19. 19. Connect with Us on Social Facebook – http://www.facebook.com/regedarkovi Google+ - http://bit.ly/regedgoogle LinkedIn - http://www.linkedin.com/company/reged Pinterest - http://pinterest.com/regedarkovi/ Twitter – http://www.twitter.com/reged YouTube – http://www.youtube.com/arkovibackups
    20. 20. Q&A Please use the "Questions" section on the webinar panel And we'll stay and monitor #regedqanda on Twitter

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