1. Exclusive Presentation for:
677 Washington Boulevard
Stamford, CT 06901 USA
Wednesday, May 23, 2012
6:30-7:30 pm EDT
Financial Services and Social Media
What it Means to You in Your Career Success
Created and Presented by:
Joyce Sullivan
CEO | Founder
SocMediaFin.com

2. Exclusive Presentation for:
677 Washington Boulevard
Stamford, CT 06901 USA
Wednesday, May 23, 2012
6:30-7:30 pm EDT
Financial Services and Social Media
What it Means to You in Your Career
Success
AGENDA:
- overview and introductions
- financial services and social media use
- industry trends
- compliance and regulation update
Your Personal Brand and Online Identify
- LinkedIn
- Facebook
- Twitter
Created and Presented by:
What’s next
- discussion and questions Joyce Sullivan
CEO | Founder
SocMediaFin.com

3. Visit us > FWA.org 3

4. Visit us > SocMediaFin.com
4

5. 5
Five global
women – NZ,
UK, US - who
work in financial
services and
use social
media for work
SXSW 2012 Financia
http://schedule.sxsw.com/2012/events/event_IAP9392

6. Social Media Tools: How Do I 6
Know Which App I Should Use?
 Who are you?
 What do you have to say?
 Who are you trying to reach?
 How do THEY want to be reached?
 Once you connect, then what?

7. US Industry Trends: Shrinking and Growing Industries 2007 - 2
Council of Economic Advisors, February 2012 report
7

8. Social Media Strategy for Financial Services
for US Firms
 Can you use social media in financial services?
 What are the rules?
 The Fun stuff: FINRA, SEC and other regulatory guidance
 How do you use social media compliantly at your firm
and in your own personal career development

9. Who are you?
Social Media and Financial Services
 New graduate joining a financial services firm
 Moving from another industry that used social media extensively
 Public Relations firm with financial services clients
 Advertising firm working with financial services
 External Legal or Compliance firm working with financial services firms
 Internal Legal or Compliance firm supporting line of business
 Sales or Marketing department who want to use social media to increase
sales
 Senior Leaders wondering if you should get into social media
 Your new hires have ideas to grow the business using social media

10. FINRA Regulatory Notice 10-06
In January, 2010, The Financial Industry Regulatory Authority (FINRA)
provided its first high level industry guidance for social media activities for
investment broker dealer firms.
10-06 provided no specific rule changes, but offered clarification in a Q & A
format.
Summary Highlights
 Record Keeping Responsibilities
 Suitability Responsibilities
 Types of Interactive Electronic Forums
 Supervision of Social Media Sites
 Third Party Posts

11. @JoyceMS
ullivan
@SocMedi
aFin

12. FINRA Regulatory Notice 10-06
@JoyceMS
ullivan
@SocMedi
aFin

13. FINRA Regulatory Notice 11-39
In August 2011, The Financial Industry Regulatory Authority (FINRA) provided
clarification of 10-06 guidance for social media activities for
investment broker dealer firms with focus on:
- Social media websites
- Use of Personal Devices for Business Communications
11-39 Summary Highlights
 Communication content is determinative; not the communication channel
 A Firm is subject to the “adoption” and “entanglement” theories regarding
third party posts (Retweets, LIKES, of others’ content)
 Business communications through personal devices must be supervised and
recorded

15. FINRA Regulation 11-39

16. Securities & Exchange Commission (SEC)
National Examination Risk Alert
In January 2012, The SEC issued their observations related to the use of
social media by registered investment advisers
Key Takeaways: Investment advisers that use or permit the use of social
media by their representatives, solicitors and/or third parties should
consider periodically evaluating the effectiveness of their compliance
program as it relates to social media. Factors that might be considered
include usage guidelines, content standards, sufficient monitoring,
approval of content, training, etc. Particular attention should be paid to
third party content (if permitted) and recordkeeping responsibilities.

17. SEC Investment Adviser Use of Social Media

18. Types of Financial Advisors
Registered Representatives Investment Advisors
(Broker-Dealer)* (Registered Investment Advisor)*
Regulated by FINRA and the SEC Regulated by SEC or state
regulators
Paid via commission Paid fee by client
Suitability – recommendation must Fiduciary responsibility – must
be consistent with best interest of place clients interest above own
client
Ethics Legality
Transactions Advice
*Dually registered firms must adhere to both SEC and FINRA rules

19. Best Practices
If your firm has approved business use of social media
DO
4.Discuss macro economic concepts
5.Discuss various sectors or industries
6.Discuss retirement concepts
7.Educate the public on financial markets and products
8.Post company non-product or services related announcements
9.Post messages that have a broad appeal (i.e. charity events or good will activities)
10.Post generic responses to third-party postings
DON’T
13.Mention individual stocks or investment names
14.Provide investment advice
15.Promote your products and services
16.Make provocative or promissory statements regarding direction of the markets or price of
commodities
17.No retweets on Twitter
18.No ‘Likes’ on Facebook
19.No unauthorized employee postings @joycemsullivan

20. Financial Services and Social Media
What it Means to You in Your Career Success
Your Personal Brand and Online Identity:
- LinkedIn
- Facebook
- Twitter

21. LinkedIn
Founded in 2002
As of May 2012:
- 162 million members
- 200 countries
- World’s largest professional network on the internet

26. 26

27. Mashable.com 27

28. Founded February 4th 2004
As of May 2012:
900 million members

30. 30

31. 31

32. 32

33. First “tweet” March 26, 2006 by Jack Dorsey @jack
As of May 2012:
500 million registered users

34. http://twitter.com/about

35. 35

36. 36

37. 37

38. 38

39. 39

40. 40

41. 41

42. 42

43. 43

44. 44

45. 45

46. Thank you!
Connect with me!
LinkedIn: http://linkedin.com/in/joycemsullivan
Website: http://socmediafin.com
Twitter: http://twitter.com/joycemsullivan
Facebook: SocMediaFin, Inc on Facebook
CNBC TV:
Joyce Sullivan on WSJR with Maria Bartiromo
46

47. Exclusive Presentation for:
677 Washington Boulevard
Stamford, CT 06901 USA
Wednesday, May 23, 2012
6:30-7:30 pm EDT
Financial Services and Social Media
What it Means to You in Your Career Success
Created and Presented by:
Joyce Sullivan
CEO | Founder
SocMediaFin.com