Summary and opinion on the FCA Guidance Consultation called Social media and customer communications: The FCA’s supervisory approach to financial promotions in social media.
Covers the main implications including potential restrictions on use of short-form social media for financial promotions, opportunity to generate additional communication between customers, restrictions to non UK companies targeting UK consumers.
TC - FCA Positive Compliance Workshop - December 2014Tony Catt
The document summarizes key points from a workshop by the UK Financial Conduct Authority (FCA) on advising standards. It discusses two areas advisers wanted clarity on: the Retail Distribution Review (RDR) and Centralized Investment Propositions (CIPs). For RDR, the FCA focused on how firms demonstrate compliance and highlighted issues like training, independence, and charging disclosure. For CIPs, the FCA noted past concerns about "shoehorning" clients but said suitability could be shown through due diligence, research, and individual client suitability assessments. The workshop provided examples of good practices for both areas.
Marketing in a brave new world - FCA financial promotions regulation - Bovill...Bovill
The document discusses new rules around financial promotions and marketing of investments. Key points include:
- New rules restrict the promotion of non-mainstream pooled investments (NMPIs) to retail investors, allowing promotion only to certified high net worth, sophisticated, or existing investors.
- The Alternative Investment Fund Managers Directive (AIFMD) also introduces marketing restrictions depending on whether a fund is located in the EEA and if its manager is above thresholds.
- Proposed rules would restrict direct offer financial promotions for unlisted debt/equity to certified retail investors or those receiving advisory services.
- Firms must consider financial promotion rules when using social media to discuss investments and ensure communications remain fair, clear and
The document provides tips for senior management at regulated firms that have been issued a Section 166 report by the FCA, advising them to hire an independent compliance consultant to help prepare and navigate the process, as the investigation can be costly and the FCA's objectives may not be clear. It warns that the FCA-appointed auditors will conduct a thorough review and firms should not see it as a fight, and that cheaper consultants may not provide a comprehensive or value analysis. Proper preparation by an experienced compliance consultant can help firms understand the FCA's perspective and significantly reduce costs.
This presentation by UK’s Financial Conduct Authority was delivered during a workshop on “Methodologies to measure market competition” held virtually for competition authorities officials on 23 February 2021. More materials on the topic can be found at http://oe.cd/mmkts.
This presentation was uploaded with the author’s consent.
This presentation by John Davies (Executive Vice President, Compass Lexecon) was delivered during a workshop on “Methodologies to measure market competition” held virtually for competition authorities officials on 23 February 2021. More materials on the topic can be found at http://oe.cd/mmkts.
This presentation was uploaded with the author’s consent.
This presentation by Chiara Criscuolo (Head of the STI Division, OECD) was delivered during a workshop on “Methodologies to measure market competition” held virtually for competition authorities officials on 23 February 2021. More materials on the topic can be found at http://oe.cd/mmkts.
This presentation was uploaded with the author’s consent.
This presentation by Pedro Gonzaga and Gabriella Erdei, OECD Competition Division, was made during the discussion “Merger Control in Dynamic Markets” held at the 18th meeting of the OECD Global Forum on Competition on 6 December 2019. More papers and presentations on the topic can be found at oe.cd/mcdym.
The document discusses the Boone indicator methodology for measuring market competition. It summarizes that the Boone indicator examines the relationship between firm efficiency and performance, where a stronger relationship indicates greater market competition. It notes advantages are that it better captures competition on efficiency rather than price. Applications to banking and insurance sectors are discussed. New insights include plotting the nonlinear efficiency-performance relationship and measuring individual firm competitiveness through elasticity.
TC - FCA Positive Compliance Workshop - December 2014Tony Catt
The document summarizes key points from a workshop by the UK Financial Conduct Authority (FCA) on advising standards. It discusses two areas advisers wanted clarity on: the Retail Distribution Review (RDR) and Centralized Investment Propositions (CIPs). For RDR, the FCA focused on how firms demonstrate compliance and highlighted issues like training, independence, and charging disclosure. For CIPs, the FCA noted past concerns about "shoehorning" clients but said suitability could be shown through due diligence, research, and individual client suitability assessments. The workshop provided examples of good practices for both areas.
Marketing in a brave new world - FCA financial promotions regulation - Bovill...Bovill
The document discusses new rules around financial promotions and marketing of investments. Key points include:
- New rules restrict the promotion of non-mainstream pooled investments (NMPIs) to retail investors, allowing promotion only to certified high net worth, sophisticated, or existing investors.
- The Alternative Investment Fund Managers Directive (AIFMD) also introduces marketing restrictions depending on whether a fund is located in the EEA and if its manager is above thresholds.
- Proposed rules would restrict direct offer financial promotions for unlisted debt/equity to certified retail investors or those receiving advisory services.
- Firms must consider financial promotion rules when using social media to discuss investments and ensure communications remain fair, clear and
The document provides tips for senior management at regulated firms that have been issued a Section 166 report by the FCA, advising them to hire an independent compliance consultant to help prepare and navigate the process, as the investigation can be costly and the FCA's objectives may not be clear. It warns that the FCA-appointed auditors will conduct a thorough review and firms should not see it as a fight, and that cheaper consultants may not provide a comprehensive or value analysis. Proper preparation by an experienced compliance consultant can help firms understand the FCA's perspective and significantly reduce costs.
This presentation by UK’s Financial Conduct Authority was delivered during a workshop on “Methodologies to measure market competition” held virtually for competition authorities officials on 23 February 2021. More materials on the topic can be found at http://oe.cd/mmkts.
This presentation was uploaded with the author’s consent.
This presentation by John Davies (Executive Vice President, Compass Lexecon) was delivered during a workshop on “Methodologies to measure market competition” held virtually for competition authorities officials on 23 February 2021. More materials on the topic can be found at http://oe.cd/mmkts.
This presentation was uploaded with the author’s consent.
This presentation by Chiara Criscuolo (Head of the STI Division, OECD) was delivered during a workshop on “Methodologies to measure market competition” held virtually for competition authorities officials on 23 February 2021. More materials on the topic can be found at http://oe.cd/mmkts.
This presentation was uploaded with the author’s consent.
This presentation by Pedro Gonzaga and Gabriella Erdei, OECD Competition Division, was made during the discussion “Merger Control in Dynamic Markets” held at the 18th meeting of the OECD Global Forum on Competition on 6 December 2019. More papers and presentations on the topic can be found at oe.cd/mcdym.
The document discusses the Boone indicator methodology for measuring market competition. It summarizes that the Boone indicator examines the relationship between firm efficiency and performance, where a stronger relationship indicates greater market competition. It notes advantages are that it better captures competition on efficiency rather than price. Applications to banking and insurance sectors are discussed. New insights include plotting the nonlinear efficiency-performance relationship and measuring individual firm competitiveness through elasticity.
This presentation by Belgium was prepared for the break-out Session 1, “Quantitative Evidence”, in the discussion “Economic Analysis in Merger Investigations” at the 19th OECD Global Forum on Competition on 9 December 2020. More papers and presentations on the topic can be found at http://oe.cd/eami.
This presentation was uploaded with the author’s consent.
This presentation by Joshua D. WRIGHT, University Professor of Law, Antonin Scalia Law School, George Mason University (GMU) and Executive Director, Global Antitrust Institute, Antonin Scalia Law School, GMU, was made during the discussion “Competition Under fire” held at the 18th meeting of the OECD Global Forum on Competition on 5 December 2019. More papers and presentations on the topic can be found at oe.cd/cunf.
This presentation by Norway was prepared for the break-out Session 1, “The role of economists in merger teams and qualitative evidence review”, in the discussion “Economic Analysis in Merger Investigations” at the 19th OECD Global Forum on Competition on 9 December 2020. More papers and presentations on the topic can be found at http://oe.cd/eami.
This presentation was uploaded with the author’s consent.
This presentation by Norway was prepared for the break-out Session 1, “Quantitative Evidence”, in the discussion “Economic Analysis in Merger Investigations” at the 19th OECD Global Forum on Competition on 9 December 2020. More papers and presentations on the topic can be found at http://oe.cd/eami.
This presentation was uploaded with the author’s consent.
This presentation by the Philippines was prepared for the break-out Session 1, “Surveys and other data gathering techniques”, in the discussion “Economic Analysis in Merger Investigations” at the 19th OECD Global Forum on Competition on 9 December 2020. More papers and presentations on the topic can be found at http://oe.cd/eami.
This presentation was uploaded with the author’s consent.
This presentation by Ania Thiemann, OECD Secretariat, was made during the discussion “Ex-Ante Regulation and Competition in Digital Markets” held at the 136th meeting of the OECD Competition Committee on 2 December 2021. More papers and presentations on the topic can be found out at oe.cd/rcdm.
This presentation by the Romanian Competition Council was delivered during a workshop on “Methodologies to measure market competition” held virtually for competition authorities officials on 23 February 2021. More materials on the topic can be found at http://oe.cd/mmkts.
This presentation was uploaded with the author’s consent.
This presentation by the United Kingdom was prepared for the break-out Session 1, “The role of economists in merger teams and qualitative evidence review”, in the discussion “Economic Analysis in Merger Investigations” at the 19th OECD Global Forum on Competition on 9 December 2020. More papers and presentations on the topic can be found at http://oe.cd/eami.
This presentation was uploaded with the author’s consent.
This presentation by Colombia was prepared for the break-out Session 1, “Quantitative Evidence”, in the discussion “Economic Analysis in Merger Investigations” at the 19th OECD Global Forum on Competition on 9 December 2020. More papers and presentations on the topic can be found at http://oe.cd/eami.
This presentation was uploaded with the author’s consent.
This presentation by Patricia Bascunana-Ambros, OECD Competition Division, was made during the discussion “Barriers to exit” held at the 132nd meeting of the OECD Competition Committee on 4 December 2019. More papers and presentations on the topic can be found at oe.cd/bte.
This presentation by South Africa was made during the break-out Session 1, “Techniques and evidence for assessing market power” in the discussion “Economic analysis and evidence in abuse cases” held at the 20th meeting of the OECD Global Forum on Competition on 7 December 2021. More papers and presentations on the topic can be found out at oe.cd/eac.
This presentation by Brazil was made during the break-out session “Competitive Assessment of Mergers” held at the 18th meeting of the OECD Global Forum on Competition on 6 December 2019. More papers and presentations on the topic can be found at oe.cd/mcdym.
This presentation by Stephen Davies (Professor of Economics, University of East Anglia, UK) was delivered during a workshop on “Methodologies to measure market competition” held virtually for competition authorities officials on 23 February 2021. More materials on the topic can be found at http://oe.cd/mmkts.
This presentation was uploaded with the author’s consent
This presentation by Helen Jenkins, Managing Partner, Oxera, was made during the discussion “Economic analysis and evidence in abuse cases” held at the 20th meeting of the OECD Global Forum on Competition on 7 December 2021. More papers and presentations on the topic can be found out at oe.cd/eac.
This presentation by the Philippines was made during the break-out Session 1, “Techniques and evidence for assessing market power” in the discussion “Economic analysis and evidence in abuse cases” held at the 20th meeting of the OECD Global Forum on Competition on 7 December 2021. More papers and presentations on the topic can be found out at oe.cd/eac.
This presentation on the Google shopping case by Joao Vareda, DG Competition, European Commission was made during the discussion “Line of business restrictions and competition concerns” held at the 69th meeting of the OECD Working Party No. 2 on Competition and Regulation on 8 June 2020. More papers and presentations on the topic can be found out at oe.cd/lobr
This presentation by Korea was prepared for the break-out Session 1, “The role of economists in merger teams and qualitative evidence review”, in the discussion “Economic Analysis in Merger Investigations” at the 19th OECD Global Forum on Competition on 9 December 2020. More papers and presentations on the topic can be found at http://oe.cd/eami.
This presentation was uploaded with the author’s consent.
This presentation by Greece was made during the break-out Session 1, “Techniques and evidence for assessing market power” in the discussion “Economic analysis and evidence in abuse cases” held at the 20th meeting of the OECD Global Forum on Competition on 7 December 2021. More papers and presentations on the topic can be found out at oe.cd/eac.
The document provides an overview of the economic analysis conducted by the Chinese Taipei Fair Trade Commission (CTFTC) in merger investigations. It discusses the composition of staff members at the CTFTC, including economists. It also outlines the role of external experts, educational training programs, and the main quantitative methods used, such as diversion ratio analysis, critical loss analysis, regression analysis, and the upward pricing pressure index. The document then provides a case study of the CTFTC's analysis of a proposed merger between two large karaoke service providers in Chinese Taipei. The CTFTC used surveys and economic modeling to define the relevant market, calculate diversion ratios and other metrics, and ultimately blocked the merger based on the potential competitive
This presentation by Kenya was prepared for the break-out Session 1, “Surveys and other data gathering techniques”, in the discussion “Economic Analysis in Merger Investigations” at the 19th OECD Global Forum on Competition on 9 December 2020. More papers and presentations on the topic can be found at http://oe.cd/eami.
This presentation was uploaded with the author’s consent.
PPACA Summary Of Benefits And Coverage GuidanceRon Bechtol
Beginning September 23, 2012, employers that sponsor self-funded health plans will be required to provide a standard Summary of Benefits and Coverage (SBC) to individuals enrolling or already enrolled. The SBC must include cost sharing details, coverage examples, and be no more than 4 pages. It must be distributed during open enrollment, upon request, when coverage changes, and at least 30 days before each new plan year. The SBC can be electronic but paper versions must be available upon request.
Preliminary summary of the PROVIA Guidance for vulnerability, impacts and ada...PROVIA
Richard Klein, PROVIA Scientific Steering Committee member, presented a preliminary summary of the PROVIA Guidance for vulnerability, impacts and adaptation assessments during the PROVIA side event at COP18 in Doha on 27th November 2012.
This presentation by Belgium was prepared for the break-out Session 1, “Quantitative Evidence”, in the discussion “Economic Analysis in Merger Investigations” at the 19th OECD Global Forum on Competition on 9 December 2020. More papers and presentations on the topic can be found at http://oe.cd/eami.
This presentation was uploaded with the author’s consent.
This presentation by Joshua D. WRIGHT, University Professor of Law, Antonin Scalia Law School, George Mason University (GMU) and Executive Director, Global Antitrust Institute, Antonin Scalia Law School, GMU, was made during the discussion “Competition Under fire” held at the 18th meeting of the OECD Global Forum on Competition on 5 December 2019. More papers and presentations on the topic can be found at oe.cd/cunf.
This presentation by Norway was prepared for the break-out Session 1, “The role of economists in merger teams and qualitative evidence review”, in the discussion “Economic Analysis in Merger Investigations” at the 19th OECD Global Forum on Competition on 9 December 2020. More papers and presentations on the topic can be found at http://oe.cd/eami.
This presentation was uploaded with the author’s consent.
This presentation by Norway was prepared for the break-out Session 1, “Quantitative Evidence”, in the discussion “Economic Analysis in Merger Investigations” at the 19th OECD Global Forum on Competition on 9 December 2020. More papers and presentations on the topic can be found at http://oe.cd/eami.
This presentation was uploaded with the author’s consent.
This presentation by the Philippines was prepared for the break-out Session 1, “Surveys and other data gathering techniques”, in the discussion “Economic Analysis in Merger Investigations” at the 19th OECD Global Forum on Competition on 9 December 2020. More papers and presentations on the topic can be found at http://oe.cd/eami.
This presentation was uploaded with the author’s consent.
This presentation by Ania Thiemann, OECD Secretariat, was made during the discussion “Ex-Ante Regulation and Competition in Digital Markets” held at the 136th meeting of the OECD Competition Committee on 2 December 2021. More papers and presentations on the topic can be found out at oe.cd/rcdm.
This presentation by the Romanian Competition Council was delivered during a workshop on “Methodologies to measure market competition” held virtually for competition authorities officials on 23 February 2021. More materials on the topic can be found at http://oe.cd/mmkts.
This presentation was uploaded with the author’s consent.
This presentation by the United Kingdom was prepared for the break-out Session 1, “The role of economists in merger teams and qualitative evidence review”, in the discussion “Economic Analysis in Merger Investigations” at the 19th OECD Global Forum on Competition on 9 December 2020. More papers and presentations on the topic can be found at http://oe.cd/eami.
This presentation was uploaded with the author’s consent.
This presentation by Colombia was prepared for the break-out Session 1, “Quantitative Evidence”, in the discussion “Economic Analysis in Merger Investigations” at the 19th OECD Global Forum on Competition on 9 December 2020. More papers and presentations on the topic can be found at http://oe.cd/eami.
This presentation was uploaded with the author’s consent.
This presentation by Patricia Bascunana-Ambros, OECD Competition Division, was made during the discussion “Barriers to exit” held at the 132nd meeting of the OECD Competition Committee on 4 December 2019. More papers and presentations on the topic can be found at oe.cd/bte.
This presentation by South Africa was made during the break-out Session 1, “Techniques and evidence for assessing market power” in the discussion “Economic analysis and evidence in abuse cases” held at the 20th meeting of the OECD Global Forum on Competition on 7 December 2021. More papers and presentations on the topic can be found out at oe.cd/eac.
This presentation by Brazil was made during the break-out session “Competitive Assessment of Mergers” held at the 18th meeting of the OECD Global Forum on Competition on 6 December 2019. More papers and presentations on the topic can be found at oe.cd/mcdym.
This presentation by Stephen Davies (Professor of Economics, University of East Anglia, UK) was delivered during a workshop on “Methodologies to measure market competition” held virtually for competition authorities officials on 23 February 2021. More materials on the topic can be found at http://oe.cd/mmkts.
This presentation was uploaded with the author’s consent
This presentation by Helen Jenkins, Managing Partner, Oxera, was made during the discussion “Economic analysis and evidence in abuse cases” held at the 20th meeting of the OECD Global Forum on Competition on 7 December 2021. More papers and presentations on the topic can be found out at oe.cd/eac.
This presentation by the Philippines was made during the break-out Session 1, “Techniques and evidence for assessing market power” in the discussion “Economic analysis and evidence in abuse cases” held at the 20th meeting of the OECD Global Forum on Competition on 7 December 2021. More papers and presentations on the topic can be found out at oe.cd/eac.
This presentation on the Google shopping case by Joao Vareda, DG Competition, European Commission was made during the discussion “Line of business restrictions and competition concerns” held at the 69th meeting of the OECD Working Party No. 2 on Competition and Regulation on 8 June 2020. More papers and presentations on the topic can be found out at oe.cd/lobr
This presentation by Korea was prepared for the break-out Session 1, “The role of economists in merger teams and qualitative evidence review”, in the discussion “Economic Analysis in Merger Investigations” at the 19th OECD Global Forum on Competition on 9 December 2020. More papers and presentations on the topic can be found at http://oe.cd/eami.
This presentation was uploaded with the author’s consent.
This presentation by Greece was made during the break-out Session 1, “Techniques and evidence for assessing market power” in the discussion “Economic analysis and evidence in abuse cases” held at the 20th meeting of the OECD Global Forum on Competition on 7 December 2021. More papers and presentations on the topic can be found out at oe.cd/eac.
The document provides an overview of the economic analysis conducted by the Chinese Taipei Fair Trade Commission (CTFTC) in merger investigations. It discusses the composition of staff members at the CTFTC, including economists. It also outlines the role of external experts, educational training programs, and the main quantitative methods used, such as diversion ratio analysis, critical loss analysis, regression analysis, and the upward pricing pressure index. The document then provides a case study of the CTFTC's analysis of a proposed merger between two large karaoke service providers in Chinese Taipei. The CTFTC used surveys and economic modeling to define the relevant market, calculate diversion ratios and other metrics, and ultimately blocked the merger based on the potential competitive
This presentation by Kenya was prepared for the break-out Session 1, “Surveys and other data gathering techniques”, in the discussion “Economic Analysis in Merger Investigations” at the 19th OECD Global Forum on Competition on 9 December 2020. More papers and presentations on the topic can be found at http://oe.cd/eami.
This presentation was uploaded with the author’s consent.
PPACA Summary Of Benefits And Coverage GuidanceRon Bechtol
Beginning September 23, 2012, employers that sponsor self-funded health plans will be required to provide a standard Summary of Benefits and Coverage (SBC) to individuals enrolling or already enrolled. The SBC must include cost sharing details, coverage examples, and be no more than 4 pages. It must be distributed during open enrollment, upon request, when coverage changes, and at least 30 days before each new plan year. The SBC can be electronic but paper versions must be available upon request.
Preliminary summary of the PROVIA Guidance for vulnerability, impacts and ada...PROVIA
Richard Klein, PROVIA Scientific Steering Committee member, presented a preliminary summary of the PROVIA Guidance for vulnerability, impacts and adaptation assessments during the PROVIA side event at COP18 in Doha on 27th November 2012.
Destined To Win, The command guidance holly spiritAriel Ramos
I do not have enough context to determine which portion of the lecture impressed me most. As an AI system, I do not experience impressions in the same way humans do.
The administration of pupil guidance and disciplineMilez Nga
The document discusses the modern trends in guidance and the different kinds of guidance. It outlines 4 modern trends: 1) Increasing responsibility of guidance by school administrators and teachers, 2) More training for guidance personnel, 3) Guiding the individual's total personality, and 4) Increased use of tests and measurements. It then lists 8 kinds of guidance: 1) Educational, 2) Vocational, 3) Personal, 4) Social, 5) Moral, 6) Recreational, 7) Health, and 8) Civic guidance.
This document provides guidance on accounting for greenhouse gas emissions from purchased electricity, known as scope 2 emissions. It outlines new requirements for dual reporting using location-based and market-based accounting methods. For companies with electricity choice, it requires reporting both methods and following scope 2 quality criteria for market-based instruments. The guidance was developed over four years with input from a technical working group of over 200 members from 23 countries. It aims to improve transparency and accuracy in accounting for scope 2 emissions.
This document provides an overview of guidance and counseling programs. It defines guidance as a process that helps individuals solve problems and pursue paths suited to their abilities. Counseling is defined as a specialized guidance service that helps individuals take responsibility and make their own decisions. The document outlines the psychological, sociological, and educational needs for guidance. It describes the elements and characteristics of effective guidance programs, including focusing on individuals, discovering abilities, and promoting self-development. The document also discusses the types of guidance provided, personnel involved, and organizing guidance programs in educational institutions.
Guidance and counselling provide assistance to help individuals develop personally and professionally. Guidance is broader and aims to help people understand alternatives and make wise choices, while counselling focuses more on inward analysis of problems. Both guidance and counselling have the goals of facilitating adjustment, optimal development, and helping individuals live productive lives. Effective guidance and counselling require principles like respecting individual differences and focusing on each person's needs and abilities. Schools need qualified counsellors and guidance services to support students' well-being and achievement.
This powerpoint presentation defines entrepreneurship and discusses its history and modern applications. It begins by defining an entrepreneur as someone who organizes and manages a business while taking on financial risk. It notes that agricultural students have been involved in entrepreneurship since the early 20th century through programs like raising livestock and growing crops. Today, agricultural entrepreneurship can involve many diverse activities beyond farming like custom harvesting or operating a small engine repair service. The presentation concludes by discussing characteristics of successful entrepreneurs and different types like social and lifestyle entrepreneurs.
The benefits and risks of social media for financial communications (2)Business Wire
Financial communications have changed a great deal since the dawn of the commercial internet. And we're not done yet. In this research report, we review the history of financial disclosure, assess the risks associated with disclosure via today's social channels, and discuss the wide range of ways today's financial communicators can expand the visibility and impact of issued news via these same social channels.
This is a great read for anyone who does social media, investor relations or public relations for a publicly traded company.
Interested in RegFD? This paper is for you!
The revolution that business is undergoing at the hands of social media continues to dominate discussion in the financial services world.
While virtually all organizations are adapting in some manner to the new possibilities and challenges presented by social business, some industries face specific hurdles when looking to do so. Financial services is a prime example.
How should financial brands react to these changes, and what are the leading businesses in the sector doing to get ahead?
Read this free report to discover:
- The current challenges and opportunities within the financial sector with regard to social media
- Five specific, practical ways financial brands can get ahead and advance their social media listening activities, with examples
More info available here: http://bit.ly/OYiNdW
WOMMA Ethics Committee White Paper
Ethical Word of Mouth Marketing Disclosure Best Practices in Today’s Regulatory Environment
WOMMA—in collaboration with industry leaders, members, non-members, academics and both B2C and B2B audiences and in consultation with the WOMMA Ethics Committee on issues of ethics and disclosure—formalized these recommended best practices and guidelines for social media, mobile and digital WOM communications in today’s regulatory environment to further industry ethics and professional disclosure practices.
This document was created to complement the WOMMA Guide to Best Practices for Disclosure in Digital, Social, and Mobile Marketing, the Ethics Code and other updates and resources that are made available at www.womma.org/ethics.
Considered a living document, this guide will be updated as needed to reflect new ethical concerns in disclosure practices, as well as changes in U.S. and international regulatory and other marketplace updates. Please note this guide is provided as a courtesy to our members and the industry at large, but is not intended to be legal advice. Always consult your own attorney to apply current law to your specific circumstances.
To download this document visit http://www.womma.org/ethicswhitepaper.
“Social Media” is the collective of online communications channels dedicated to community-based input, interaction, content-sharing and collaboration. These channels typically include platforms such as: Facebook, Twitter, Instagram, LinkedIn, YouTube, Snapchat, Reddit, Pinterest etc.
Social Media a platform to increase sales & visibility - WhitepaperNIIT Technologies
Insurers are considering it extremely critical to monitor all social media activity relating to business, products and brands. Though return on investment for social media initiatives can be difficult to measure, the benefits of communicating with clients regularly creates a consistent message. This whitepaper examines the areas where social media has a significant impact.
Dr Dev Kambhampati | FTC- How to make effective disclosures in digital advert...Dr Dev Kambhampati
This document provides guidance from the Federal Trade Commission (FTC) on how to make clear and conspicuous disclosures in digital advertising to comply with FTC laws. Key points include:
1. The same consumer protection laws that apply to other media like print and television also apply to online advertising, including prohibitions on unfair or deceptive practices.
2. Required disclosures must be clear and conspicuous. Factors like proximity, prominence, and understandability of language affect whether a disclosure is clear and conspicuous.
3. Advertisers should design ads so that disclosures are unavoidable and place them as close as possible to the relevant claims. Using hyperlinks, text cues, and repeating disclosures
The document discusses why social media compliance is essential for enterprises. It outlines several social media use cases in enterprises, including marketing, customer service, employee advocacy, and talent assessment. It also covers industry social media guidelines, the need for training and compliance programs, and how proactive monitoring and intervention can help reduce risks. Emerging vendor tools that can help with social media risk management and compliance are described. The document promotes Cafyne as a vendor that can help enterprises launch compliant social media programs through features like predictive analytics, real-time compliance checks, and optimized social media monitoring of employees.
This document provides an introduction and guidelines for using social media for public relations purposes. It begins with definitions of social media and an overview of the CIPR Code of Conduct. It then lists dos and don'ts for social media engagement, emphasizing listening, understanding audiences, planning strategies, engaging in conversations consistently across platforms, being transparent, correcting errors, and considering legal and ethical issues. The document aims to help PR professionals navigate social media challenges in a rapidly changing environment.
These guidelines are intended as an introductory guide to highlight core principles that must be considered when developing a communications strategy and campaigns including social media in the United Kingdom. For international activity, members are advised to review the guidelines and legal considerations of their respective countries.
The CIPR social media advisory (CIPRSM) panel would like to thank all those who contributed to updating these guidelines.
SimpliFlying Featured: The importance of social media in today’s airline busi...SimpliFlying
African Airlines Association (AFRAA), 2013 - The use of social media in the airline industry has become a rapidly increasing trend. This paper includes case studies from SimpliFlying to help outline the key business objectives for airlines on social media.
The document discusses social media advertising pitfalls for UK financial services firms. It summarizes that (1) financial promotions rules apply to communications through social media similarly to other forms of advertising, (2) simply labeling a communication "non-advertising" does not exempt it from financial promotion rules, and (3) communications must comply with all relevant rules around clarity, fairness, and avoiding misrepresentation.
Social and Cloud Marketing Impact on BusinessesSaumya Verma
This project report gives a brief analysis of social media management and cloud marketing, what are the strategies to use them, benefits derived out of them, how to measure them. This report also covers both B2B and B2C strategies for using social media marketing.
Realizing the Potential of Social Media: A Strategy and Approach for InsurersCognizant
- Insurers have begun using social media but have yet to realize its full potential for customer engagement and business benefits. While most insurers are active on platforms like Facebook and Twitter, their interactions are often disjointed and not well-aligned with customer expectations.
- To be more effective, insurers need a clear social media strategy and vision consisting of phased customer engagement. This involves first listening to understand customer needs, then engaging more directly through responses and content, and eventually influencing customers as advocates for the brand.
- Key aspects of a strategy include defining target audiences, desired business objectives, allowable channels, and integration with back-end processes to optimize benefits like improved marketing, sales, and claims handling
This document provides a summary of digital marketing strategies and tactics for the Institute for the Study of Muslim Civilisations' (ISMC) 2015 Summer Programme campaign. It discusses using various digital channels like search, display ads, email, video and social media to reach prospects at different stages of the customer journey. Specific tactics recommended include banner ads, an email newsletter and online video. It also stresses the importance of web analytics to measure goals like brochure downloads, newsletter signups and application completions. Overall the document provides a comprehensive digital marketing plan to help ISMC expand its online reach and drive conversions for its Summer Programme.
1. The document discusses social media marketing and how it has become a major platform for advertising. It allows companies to connect with potential customers and get feedback on products through reviews.
2. Social media provides advantages for marketing like reducing costs and improving reach compared to traditional channels. It allows customizing products based on customer feedback and interactions.
3. The usage of social media and internet is increasing worldwide each year, opening new opportunities for companies to target audiences and leverage platforms to build their brand awareness. However, social media also presents challenges that require strategic planning.
Social networking for Customer Contact — Frost & Sullivanelcontact.com
This document discusses social networking for customer contact and service. It outlines how leading enterprises are leveraging social conversations between customers for benefits like sales leads, brand promotion, and product feedback. Early adopters are establishing online customer communities and forums, using social listening platforms to monitor conversations, and building support for customer contacts via social media. While business cases for communities are clear, those for social listening are less so. The market faces challenges like perceptions of social media as non-business and unclear returns from conversation monitoring. Overall, social networking is becoming increasingly important for enterprises, especially large consumer-focused companies.
Technology Analysis - Social Networking as an Avenue for CRMAshley Leonzio
1. The document discusses using social networking as part of customer relationship management (CRM) strategies. It explores how social networks can engage customers and generate new leads and insights for organizations.
2. Major CRM vendors like Salesforce, Microsoft, and Oracle are developing social networking applications to integrate social features into their CRM platforms.
3. Implementing social CRM brings benefits like multiple communication channels, real-time access to customers, and new sales leads. However, social CRM is still new and faces challenges like security concerns and lack of executive support in some organizations.
Frost & Sullivan Social Media Customer Engagement White PaperTherese Reuterswärd
Social media is becoming an important channel for customer engagement and support. Contact centers need strategic plans for managing social media interactions. Common challenges include unclear ownership, focus on capabilities over value, and lack of integration across departmental initiatives. Recommendations include obtaining executive support, collaborating across departments, exploring vendor solutions, and acting with sufficient planning but also urgency.
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Social Media: UK FCA Guidance Consultation Summary & Opinion
1. FCA Social Media and Customer Communications : Summary of guidance consultation
FCA Social Media and Customer
Communications
Summary of guidance consultation
Black Swan Partners Limited
26 August 2014
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Version Control
Document
Version No.
Date Author Change Description
V1.0 13 August DC, HP & SM Final Document
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1. Implications
1.1 Social Media and Promotions
The requirement to have a risk warning on every financial promotion has significant implications
for the use of twitter and other limited character social media. In essence, it is very difficult to
communicate a financial promotion in 140 characters that is meaningful and effective as well as
compliant, as the example later in this document demonstrates. The FCA paper itself highlights this,
stating in paragraph 2.9 that ‘firms should consider the appropriateness of character-limited media
as a means of promoting complex features of products or services’.
The paper proposes one alternative – tweeting an image or link that contains a more in-depth
communication, including a prominent risk warning. However, as it is possible for some users not
to view images automatically, and some may not click on a link the tweet and the image/link
content has to be compliant on a stand-alone basis. This is likely to mean that the tweet text could
not contain any inducement or invitation to engage in financial activity.
The ability of firms to engage with clients or potential clients by twitter is also somewhat limited, as
anything that the firm retweets, even if it was not the originator of the tweet, also needs to be
compliant. The firm would therefore be unable to retweet an endorsement if it contained an
invitation to engage in financial activity.
Overall, this means the companies will have to continue to explore the use of alternative social
marketing mediums such as blogs and video and we expect to see a shift to promotional activity
where the social media will support suitable risk warnings.
1.2 Interaction on Social Networks
We believe that the most significant opportunity to come out of this consultation will relate to the
ability of retail financial clients to communicate with each outside the FCA’s regulation1 and the
implications this can have.
A recent survey found that 90% of consumers would recommend a brand to others after
interacting with them on social2. If retail financial service providers are able to embrace this
opportunity it could deliver significant corporate as well as client benefits.
This opportunity includes non financial specific networks including Twitter, LinkedIn, Google+,
Facebook, Youtube and Pinterest as well as existing financial networks such as Stocktwits,
Interactive Investor and eToro.
Enabling users to discuss investments, trading ideas and service providers will in the long-term help
drive transparency and ultimately improve the offerings available.
With the course of business regulatory ‘carve out’, it will be important that corporates are able to
clearly distinguish between individuals posting as individuals ‘not in the course of business’ and
others posting social media content for commercial gain, whether as affiliates or paid contributors
to networks. This will be particularly relevant for social trading companies.
1 http://www.fca.org.uk/static/documents/guidance-consultations/gc14-06.pdf Clause 2.5
2 Your Brand Sux – www.iabuk.net/about/press/archive/iab-research-shows-social-media-drives-roi-for-fmcg
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1.3 International Communications
The paper makes clear that the FCA’s rules cover any financial promotion that is capable of having
an effect in the UK, unless an exemption is available. This has particular implications for social
trading firms. The FCA is scheduled to release guidance on copy trading later in 2014, and until it
does some firms, regulated in EEA jurisdictions outside the UK, have continued to engage in
activities which the FCA has suggested to UK firms are non compliant.
It is also interesting that one of the illustrated examples used in the paper is an example of a social
trading communication, the non-compliant tweet shown in figure 1. In the past, the FCA has paid
little attention to social trading.
The paper suggests that in future all operators accepting UK clients, regardless of the regulatory
jurisdiction, will need to ensure their social media communications are compliant with FCA
regulations.
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2. FCA Guidance Consultation Summary
2.1 Social media and customer communications
2.1.1 Introduction
Digital media are now becoming the media of choice for customer communications and specifically
for financial promotions.
Firms are using social forms of digital media (social media) for their communications with
customers.
The FCA rules are intended to be media-neutral to ensure that customers are presented with
information in a fair and balanced way.
The overarching principle is that any communication should be fair, clear and not misleading.
2.1.2 FCA Objectives: consumer protection and competition
The FCA wants to promote effective competition in the interests of consumers, as well as consumer
protection. Digital media can allow new and smaller firms to have a presence in the marketplace.
Social media specifically may allow businesses to reach a wider audience. In principle this can make
it easier for consumers to switch providers, and so enhance competition.
There are significant potential benefits from the use of all digital media by firms, provided this is
responsible and customer-focused.
2.2 The FCA’s supervisory approach: a statement
2.3 What are social media?
Social Media are ‘websites and applications that enable users to create and share content or
participate in social networking.’
It can be broken down in to the following:
Blogs / Microblogs
Social Networks
Image / Video-sharing platforms
Forums
The FCA recognises that social media are a powerful channel of communication and of significant
value to firms. They do not want to prevent their use.
2.4 What is a financial promotion
Any form of communication is capable of being a financial promotion, depending on whether it
includes an invitation or inducement to engage in financial activity.
For social media it is clear that a promotion is a promotion. One generally accepted way to do this,
for character-limited media is the use of #ad
6. Uses 130 of 140 allowed
characters (including
image) yet far from a
meaningful or effective
promotion, so much so
that risk warning takes up
more space than advert.
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2.5 Fair, clear and not misleading
Principle 7 of the Principles for Business states that it is a fundamental requirement that all
communications are fair, clear and not misleading. This stands even if a post ends up in front on a
non-intended recipient via re-tweeting on Twitter or sharing on Facebook.
Firms should also consider the appropriateness of character-limited media as a means of
promoting complex features of financial products.
Twitter (140 Characters)
Vine (Six Second Video)
Pinterest (500 Characters)
It may be more appropriate to use ‘image advertising’ to promote a firm more generally.
Below are examples of acceptable and unacceptable promotional tweets:
The first figure shows an example of a tweet where the promotion lacks balance, as it over-emphasises
the benefits and includes an inadequate risk warning. It fails to comply with the past
performance rules as it makes the indication of past performance the most prominent feature, and
fails to include performance information of the preceding five years.
The second figure is an example of a fair, clear and not misleading tweet, conveying a prominent
warning within the character limitation. It also makes clear that the message is a promotion by
adding the hashtag #ad.
Figure 1: Examples of non-compliant (left) and compliant (right) financial promotion tweets
2.6 Stand Alone Compliance
Each communication needs to be considered individually and comply with the relevant rules. Risk
warnings need to be clear and not in much smaller fonts that get lost in the surrounding text.
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2.7 Risk warnings and other required statements
There are requirements to include risk warnings and other statements in promotions for certain
products/services.
A possible solution to the problem of character limitation is to insert images which allow relatively
unrestricted information to be conveyed.
Image advertising is advertising that only consists of the name of the firm, a logo or other image
associated with the firm, a contact point and a reference to the types of regulated activities
provided by the firm or to its fees or commissions.
Figure 2: Compliant tweet containing image
Twitter images are not always permanently visible
therefore where the financial promotion triggers a risk
warning required by the FCA, this cannot appear solely
in the image.
Firms can tweet a link to a website with financial
promotion but the signpost must be standalone
compliant.
For example:
‘To see our current mortgage offers, go to www.whaftmortgages.co.uk’
This is compliant – the wording does not create a financial promotion
‘To see our great mortgage offers, go to www.wharfmortgages.co.uk’
This is non-compliant – the element of inducement with the word ‘great’ creates a promotion
that then requires a risk warning.
2.8 Other regulatory issues
2.8.1 Recipients sharing of forwarding communications
Where a recipient shares (e.g re-tweet) a firm’s communication, responsibility lies with the
communicator, so in that case the firm would not be responsible.
Any breaches of the FCA rules in the original communication are still the responsibility of the
originating firm, and not the ‘re-tweeter.’
Where a firm re-tweets a customer’s tweet, the firm is responsible as the communicator, even
though the firm did not generate the content of the communication.
8. 2.8.2 International communications
Digital communications are not limited to national borders. There are also a number of measures
in place within the European Economic Area (EEA) to facilitate trade and commerce within the EEA.
As the UK regulator, the FCA rules cover all financial promotions capable of having an effect in the
UK.
2.8.3 ‘Real time’ and digital media
Digital media may not fall within the definition of ‘real-time’ communication under article 7 of the
Financial Promotion Order (FPO).
Promotion is non-real time and therefore subject to the FCA conduct of business rules where it
creates a record of communication, is directed at multiple recipients, and does not require the
recipient to respond immediately.
The FCA considers a tweet a non-real time promotion.
2.8.4 Approval and record-keeping
Firms have an obligation to have an adequate system in place to sign off digital media
communications by a person of appropriate competence and seniority within the organisation.
Firms should keep adequate records of any significant communications. Firms should not rely on
digital media channels to maintain records as older material is often deleted.
2.8.5 Advertising Standards Authority
Advertisers are required to adhere to the Committee of Advertising Practice Code, which applies to
‘non-technical’ elements of financial advertising, for example matters of social responsibility, harm
and offence.
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2.9 Further information
For further questions on the FCA paper, or for any other information about the retail trading and
investment sectors, please contact Black Swan Partners using the details below:
2.10 Contact Details
For further information, please contact:
Dominic Crosthwaite Director, Black Swan Partners Limited
Email: dominic@blackswanpartners.co.uk
Tel: 0203 176 0090
Mob: 07764 195 501
Skype: dcrosthwaite
Stuart Millson Consultant, Black Swan Partners Limited
Email: stuart@blackswanpartners.co.uk
Tel: 0203 286 8975
Mob: 07786 551 764
Skype: stuart.millson