SlideShare a Scribd company logo
1 of 30
Exclusive Presentation for:
                              250 Hudson St – 16th floor (PH)
                                         New York, NY USA
                                  Thursday, March 29, 2012
                                         2:00-3:00 pm EDT




   Financial Services and Social Media



                                  Created and Presented by:
                                            Joyce Sullivan
                                           CEO | Founder
                                         SocMediaFin.com
Exclusive Presentation for:
                                                     250 Hudson St – 16th floor (PH)
                                                                New York, NY USA
                                                         Thursday, March 29, 2012
                                                                2:00-3:00 pm EDT


Financial Services and Social Media
AGENDA:
2:00 – 2:05   overview and introductions
2:05 – 2:10    financial services and social media use
2:10 – 2:15   industry trends
2:15 – 2:25   USA: SEC and FINRA compliance and regulation update
              UK, Canada: social media regulation and financial services
2:25 – 2:30   compliant use of LinkedIn, Facebook, Twitter and more…
2:30 – 2:35   who owns social in financial services firms?
2:35 – 2:40   what’s next for financial services and social media use
2:40 – 2:50   discussion and questions
                                                         Created and Presented by:
Thank you!                                                         Joyce Sullivan
                                                                  CEO | Founder
                                                                SocMediaFin.com
Visit us > SocMediaFin.com
                             3
Visit us > SocMediaFin.com   4
5



SXSW 2012 Financial S
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

 Why are some firms using social media and others are
  not?

 What can you do to bring Social Media to your
  organization

 Next Steps to make it happen


                                                         @JoyceMS
                                                          ullivan
                                                         @SocMedi
                                                             aFin
US Industry Trends: Shrinking and Growing Industries 2007 - 2




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




   Council of Economic Advisors, February 2012 report
                                                         8
Who are you?
  Social Media Strategy for 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
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
@JoyceMS
 ullivan
@SocMedi
    aFin
FINRA Regulatory Notice 10-06




                                @JoyceMS
                                 ullivan
                                @SocMedi
                                    aFin
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


                                                                     @JoyceMS
                                                                      ullivan
                                                                     @SocMedi
                                                                         aFin
@JoyceMS
 ullivan
@SocMedi
    aFin
FINRA Regulation 11-39




                         @JoyceMS
                          ullivan
                         @SocMedi
                             aFin
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.
SEC Investment Adviser Use of Social Media
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
FINRA Classification of Social Networking Activities
Is it…?
     - Public Appearance
     - Advertisement
     - Correspondence

It depends…
 Public Appearances are unscripted participation in an interactive forum such as a
chat room or online seminar
 Advertisements are the static written content available for access online. This
includes the static content on a blog, FaceBook profile, Twitter profile and LinkedIn
profile. Profile includes any background or wall information posted.
 Correspondence would be email communications that are sent one-on-one through
the email system of social media sites.
 The different classifications affect whether or not it requires Registered Principal
pre-approval, post-monitoring or possible marketing filings with FINRA.

Source: FINRA NTM 10-06                                                @joycemsullivan
Supervision and Monitoring
 Firms must establish policies that are reasonably designed to ensure their social media
activities do not violate general rules outlined in Regulatory Notice 07-59
General Requirements
4.Written policy and procedures that are disseminated throughout the firm
5.Identify what types of communications require review
6.Identify which persons are responsible for supervision. This should include business
employees because certain functions may be performed by non-compliance employees.
7.Outline the method of review
8.Frequency of the review
9.Documentation that reviews were carried out
 Conduct compliance training
 Identify how complaints are handled
 Identify which employees have access to social media sites via the firm’s network
 Continually evaluate social media activities for compliance
Source: FINRA NTM 07-59




                                                                      @joycemsullivan
Recordkeeping Requirements
 What records are required to be kept in social media activities
       Static Postings
       Discussion threads
       Third Party Postings
 For FINRA member broker dealers:
       3 years with the last 2 years in an easily accessible place
       [FINRA Rule 2210 (b)(2)(A) and 3110]


 For SEC registered investment advisors:
       5 years with the last 2 years in an easily accessible place
       [SEC Rule 17a-3 and 17a-4 of the ‘34 Act]
 Regulators do not endorse any particular record keeping technology or vendor, nor
acknowledges that there are adequate technologies that exist.


Source: FINRA NTM 07-59



                                                                      @joycemsullivan
FINRA Regulatory Notice 10-06
                  Guidelines for Social Networks
Regulation                 Social Network and Web 2.0 Impact

SEC Rules 17a-3 and        Retain records of communications related to business
17a-4 and NASD rule 3110

Public Appearances         Electronic forums and chat rooms, content posted to social media
                           may constitute a pubic appearance

Prior Approvals            Wall postings require prior approval

Participation              Real time participation on social networks equals participation

FINRA Regulatory Notice    For instance, communications between research and investment
07-59                      banking departments should be restricted

Restrict personnel         Only those subject to firm’s supervision should have access,
                           providing training prior to engagement, prohibit or restrict those
                           who pose a compliance risk.

                           Restrict access with technology



                                                                             @joycemsullivan
Possible interpretations for FINRA regulations impact on
         Social Media Sites: Facebook / LinkedIn / Twitter
Rule or Notice   Summary of rule or notice                  Facebook            LinkedIn              Twitter
                                                            Features            Features              Features
                                                            Impacted            Impacted              Impacted

FINRA            Allows for registered representatives to   • Profile           • Profiles            • Profile
Regulatory       participate in real-time                   • Chat              • Group discussions   • Tweets
Notice 10-06     communications, but care still needs to    • Compose Message   • Share an update     • Retweets
(Guidance for    be given to the content of the message.    • Status update     • Send a message      • Replies
social media     In interactive electronics forums, such    • Wall postings     • Recommendations
web sites)       as chat rooms, prior approval of           • Upload photos     • Replies
                 extemporaneous remarks isn’t required      • Upload video
                                                            • Like




FINRA            Members should take steps to reduce,       • Profile           • Profiles            • Profile
Regulatory       manage, or eliminate potential conflicts   • Chat              • Group discussions   • Tweets
Notice 07-59     of interest, to prevent electronic         • Compose Message   • Share an update     • Retweets
(Conflicts of    communications between certain             • Status update     • Send a message      • Replies
Interest)        individuals/groups or monitoring           • Wall postings     • Recommendations
                 communications as required by FINRA        • Upload photos     • Replies
                 rules.                                     • Upload video
                                                            • Like




                                                                                               @joycemsullivan
Working with Your Legal and Compliance Department

Don’t assume your legal and compliance colleagues..
      - “get it” or immediately think it’s a cool idea
      - understands social media concepts or even likes it
      - understands your social media business plans
      - are fully versed in social media regulations


Do:
      - start with the basics in educating them on social networking sites
      - provide them with a comfort level with the technology
      - provide them with articles and research related to social media compliance
      - inform them what your competitors are doing in this space
      - invite the tech department to be part of the conversation
      - propose running a pilot project to test the waters
           - internal test with other employees (intranet)
           - external test with selected pilot clients

                                                                    @joycemsullivan
Best Practices
DO
3.Discuss macro economic concepts
4.Discuss various sectors or industries
5.Discuss retirement concepts
6.Educate the public on financial markets and products
7.Post company non-product or services related announcements
8.Post messages that have a broad appeal (i.e. charity events or good will activities)
9.Post generic responses to third-party postings


DON’T
12.Mention individual stocks or investment names
13.Provide investment advice
14.Promote your products and services
15.Make provocative or promissory statements regarding direction of the markets or price of
commodities
16.No retweets on Twitter
17.No ‘Likes’ on Facebook
18.No unauthorized employee postings
                                                                                 @joycemsullivan
FINRA Advertising Compliance Resource
             http://www.finra.org/Industry/Issues/Advertising/index.htm


 Compliance Considerations for Social Networking Sites Webinar - On Demand
 Implementing Compliance Practices for Social Media - On Demand
 What to Expect: Filing Communications for FINRA Review - Webcast
 Guide to the Internet for Registered Representatives
 Online Advertising Report
 Advertising Regulation Electronic Files
 SIPC Information
 529 College Savings Plans
 Member Alerts (2007-2001)
 Regulatory & Compliance Alert Article Reference Guide
 Member Update - NASD Review of Hedge Fund Advertising Results in Formal Action
 Advertising Regulation – Notices by Year 2011-1996
 Advertising-Related News Releases by Year 2011-2002
 Advertising-Related Interpretive Letters
 Advertising-Related Investor Alerts

                                                                         @joycemsullivan
Questions
    ?




            27
Thank you!
           Connect with me!


LinkedIn: http://linkedin.com/in/joycemsullivan
Website: http://socmediafin.com
Twitter:     http://twitter.com/joycemsullivan
Google+: Joyce Sullivan on Google Plus
Facebook: SocMediaFin, Inc on Facebook
CNBC TV:
Joyce Sullivan on WSJR with Maria Bartiromo


                                                  28
Exclusive Presentation for:
                                                     250 Hudson St – 16th floor (PH)
                                                                New York, NY USA
                                                         Thursday, March 29, 2012
                                                                2:00-3:00 pm EDT


Financial Services and Social Media
AGENDA:
2:00 – 2:05   overview and introductions
2:05 – 2:10    financial services and social media use
2:10 – 2:15   industry trends
2:15 – 2:25   USA: SEC and FINRA compliance and regulation update
              UK, Canada: social media regulation and financial services
2:25 – 2:30   compliant use of LinkedIn, Facebook, Twitter and more…
2:30 – 2:35   who owns social in financial services firms?
2:35 – 2:40   what’s next for financial services and social media use
2:40 – 2:50   discussion and questions
                                                         Created and Presented by:
Thank you!                                                         Joyce Sullivan
                                                                  CEO | Founder
                                                                SocMediaFin.com
Exclusive Presentation for:
                              250 Hudson St – 16th floor (PH)
                                         New York, NY USA
                                  Thursday, March 29, 2012
                                         2:00-3:00 pm EDT




   Financial Services and Social Media



                                  Created and Presented by:
                                            Joyce Sullivan
                                           CEO | Founder
                                         SocMediaFin.com

More Related Content

Viewers also liked

Visa inc. q4 2016 financial results conference call presentation
Visa inc. q4 2016 financial results conference call presentationVisa inc. q4 2016 financial results conference call presentation
Visa inc. q4 2016 financial results conference call presentationvisainc
 
2016 Edelman Trust Barometer - Financial Services Results
2016 Edelman Trust Barometer - Financial Services Results2016 Edelman Trust Barometer - Financial Services Results
2016 Edelman Trust Barometer - Financial Services ResultsEdelman
 
How to Build a Dynamic Social Media Plan
How to Build a Dynamic Social Media PlanHow to Build a Dynamic Social Media Plan
How to Build a Dynamic Social Media PlanPost Planner
 
You Are Not As Rational As You Think
You Are Not As Rational As You ThinkYou Are Not As Rational As You Think
You Are Not As Rational As You ThinkYang Ao Wei 楊翱維
 
How to Use Social Media to Influence the World
How to Use Social Media to Influence the WorldHow to Use Social Media to Influence the World
How to Use Social Media to Influence the WorldSean Si
 

Viewers also liked (8)

Visa inc. q4 2016 financial results conference call presentation
Visa inc. q4 2016 financial results conference call presentationVisa inc. q4 2016 financial results conference call presentation
Visa inc. q4 2016 financial results conference call presentation
 
Design your life in 2016
Design your life in 2016Design your life in 2016
Design your life in 2016
 
2016 Edelman Trust Barometer - Financial Services Results
2016 Edelman Trust Barometer - Financial Services Results2016 Edelman Trust Barometer - Financial Services Results
2016 Edelman Trust Barometer - Financial Services Results
 
2016 Digital Yearbook
2016 Digital Yearbook2016 Digital Yearbook
2016 Digital Yearbook
 
How to Build a Dynamic Social Media Plan
How to Build a Dynamic Social Media PlanHow to Build a Dynamic Social Media Plan
How to Build a Dynamic Social Media Plan
 
Digital in 2016
Digital in 2016Digital in 2016
Digital in 2016
 
You Are Not As Rational As You Think
You Are Not As Rational As You ThinkYou Are Not As Rational As You Think
You Are Not As Rational As You Think
 
How to Use Social Media to Influence the World
How to Use Social Media to Influence the WorldHow to Use Social Media to Influence the World
How to Use Social Media to Influence the World
 

Similar to Joyce Sullivan presents Financial Services and Social Media to Edelman NYC

Hootsuite Executive Sales Training: Financial Services and Social Media
Hootsuite Executive Sales Training: Financial Services and Social MediaHootsuite Executive Sales Training: Financial Services and Social Media
Hootsuite Executive Sales Training: Financial Services and Social MediaSocMediaFin - Joyce Sullivan
 
Social Media in Investment Management
Social Media in Investment ManagementSocial Media in Investment Management
Social Media in Investment ManagementMikhail Demidov
 
Social Media and Regulated Industries - NYU SMI talk by Joyce Sullivan, July ...
Social Media and Regulated Industries - NYU SMI talk by Joyce Sullivan, July ...Social Media and Regulated Industries - NYU SMI talk by Joyce Sullivan, July ...
Social Media and Regulated Industries - NYU SMI talk by Joyce Sullivan, July ...SocMediaFin - Joyce Sullivan
 
Leveraging Social Business Amid The Changing Regulatory Landscape - BDI 3/6 F...
Leveraging Social Business Amid The Changing Regulatory Landscape - BDI 3/6 F...Leveraging Social Business Amid The Changing Regulatory Landscape - BDI 3/6 F...
Leveraging Social Business Amid The Changing Regulatory Landscape - BDI 3/6 F...Business Development Institute
 
Compliance Considerations in Social Media Initiatives - BDI 5/17/12 Social & ...
Compliance Considerations in Social Media Initiatives - BDI 5/17/12 Social & ...Compliance Considerations in Social Media Initiatives - BDI 5/17/12 Social & ...
Compliance Considerations in Social Media Initiatives - BDI 5/17/12 Social & ...Business Development Institute
 
Social Networking for Financial Advisors
Social Networking for Financial AdvisorsSocial Networking for Financial Advisors
Social Networking for Financial Advisorsbengilbert
 
Black Swan Partners & Reed Smith Social Trading & Marketing Seminar
Black Swan Partners & Reed Smith Social Trading & Marketing SeminarBlack Swan Partners & Reed Smith Social Trading & Marketing Seminar
Black Swan Partners & Reed Smith Social Trading & Marketing SeminarBlack Swan Partners
 
David Chung Presentation - BDI 7/12/12 Social Media Security & Compliance Wor...
David Chung Presentation - BDI 7/12/12 Social Media Security & Compliance Wor...David Chung Presentation - BDI 7/12/12 Social Media Security & Compliance Wor...
David Chung Presentation - BDI 7/12/12 Social Media Security & Compliance Wor...Business Development Institute
 
David Chung, ING Presentation - BDI 4/14/11 Financial Services Social Communi...
David Chung, ING Presentation - BDI 4/14/11 Financial Services Social Communi...David Chung, ING Presentation - BDI 4/14/11 Financial Services Social Communi...
David Chung, ING Presentation - BDI 4/14/11 Financial Services Social Communi...Business Development Institute
 
David Chung, ING Presentation - BDI 2/23/12 Social Media in Wealth Management...
David Chung, ING Presentation - BDI 2/23/12 Social Media in Wealth Management...David Chung, ING Presentation - BDI 2/23/12 Social Media in Wealth Management...
David Chung, ING Presentation - BDI 2/23/12 Social Media in Wealth Management...Business Development Institute
 
Social Media & Investor Relations: It’s NOT Oil and Water
Social Media & Investor Relations: It’s NOT Oil and WaterSocial Media & Investor Relations: It’s NOT Oil and Water
Social Media & Investor Relations: It’s NOT Oil and WaterMichael Pranikoff
 
Investor Relations & Emerging Media: NIRI St. Louis – May 2011
Investor Relations & Emerging Media: NIRI St. Louis – May 2011Investor Relations & Emerging Media: NIRI St. Louis – May 2011
Investor Relations & Emerging Media: NIRI St. Louis – May 2011Michael Pranikoff
 
Joanna Belbey Presentation - BDI 10/20/11 Insurance Social Communications Lea...
Joanna Belbey Presentation - BDI 10/20/11 Insurance Social Communications Lea...Joanna Belbey Presentation - BDI 10/20/11 Insurance Social Communications Lea...
Joanna Belbey Presentation - BDI 10/20/11 Insurance Social Communications Lea...Business Development Institute
 
ING Presentation - BDI 7/26/11 Social Media Security & Compliance Workshop fo...
ING Presentation - BDI 7/26/11 Social Media Security & Compliance Workshop fo...ING Presentation - BDI 7/26/11 Social Media Security & Compliance Workshop fo...
ING Presentation - BDI 7/26/11 Social Media Security & Compliance Workshop fo...Business Development Institute
 
Leveraging Social Business Amid The Changing Regulatory Landscape - BDI 12/4/...
Leveraging Social Business Amid The Changing Regulatory Landscape - BDI 12/4/...Leveraging Social Business Amid The Changing Regulatory Landscape - BDI 12/4/...
Leveraging Social Business Amid The Changing Regulatory Landscape - BDI 12/4/...Business Development Institute
 
Social Media and Financial Services presentation to Financial Planners Associ...
Social Media and Financial Services presentation to Financial Planners Associ...Social Media and Financial Services presentation to Financial Planners Associ...
Social Media and Financial Services presentation to Financial Planners Associ...SocMediaFin - Joyce Sullivan
 
Investor Relations & Emerging Media – Presented at the NIRI Capital Area Chap...
Investor Relations & Emerging Media – Presented at the NIRI Capital Area Chap...Investor Relations & Emerging Media – Presented at the NIRI Capital Area Chap...
Investor Relations & Emerging Media – Presented at the NIRI Capital Area Chap...Michael Pranikoff
 
The Social Advisor : Social Media Secrets for Savvy Advisors
The Social Advisor : Social Media Secrets for Savvy AdvisorsThe Social Advisor : Social Media Secrets for Savvy Advisors
The Social Advisor : Social Media Secrets for Savvy AdvisorsSmarsh
 
Actiance Presentation - BDI 7/26/2011 Social Media Security & Compliance Work...
Actiance Presentation - BDI 7/26/2011 Social Media Security & Compliance Work...Actiance Presentation - BDI 7/26/2011 Social Media Security & Compliance Work...
Actiance Presentation - BDI 7/26/2011 Social Media Security & Compliance Work...Business Development Institute
 

Similar to Joyce Sullivan presents Financial Services and Social Media to Edelman NYC (20)

Ubs may23,2012 joyce-sullivan
Ubs may23,2012 joyce-sullivanUbs may23,2012 joyce-sullivan
Ubs may23,2012 joyce-sullivan
 
Hootsuite Executive Sales Training: Financial Services and Social Media
Hootsuite Executive Sales Training: Financial Services and Social MediaHootsuite Executive Sales Training: Financial Services and Social Media
Hootsuite Executive Sales Training: Financial Services and Social Media
 
Social Media in Investment Management
Social Media in Investment ManagementSocial Media in Investment Management
Social Media in Investment Management
 
Social Media and Regulated Industries - NYU SMI talk by Joyce Sullivan, July ...
Social Media and Regulated Industries - NYU SMI talk by Joyce Sullivan, July ...Social Media and Regulated Industries - NYU SMI talk by Joyce Sullivan, July ...
Social Media and Regulated Industries - NYU SMI talk by Joyce Sullivan, July ...
 
Leveraging Social Business Amid The Changing Regulatory Landscape - BDI 3/6 F...
Leveraging Social Business Amid The Changing Regulatory Landscape - BDI 3/6 F...Leveraging Social Business Amid The Changing Regulatory Landscape - BDI 3/6 F...
Leveraging Social Business Amid The Changing Regulatory Landscape - BDI 3/6 F...
 
Compliance Considerations in Social Media Initiatives - BDI 5/17/12 Social & ...
Compliance Considerations in Social Media Initiatives - BDI 5/17/12 Social & ...Compliance Considerations in Social Media Initiatives - BDI 5/17/12 Social & ...
Compliance Considerations in Social Media Initiatives - BDI 5/17/12 Social & ...
 
Social Networking for Financial Advisors
Social Networking for Financial AdvisorsSocial Networking for Financial Advisors
Social Networking for Financial Advisors
 
Black Swan Partners & Reed Smith Social Trading & Marketing Seminar
Black Swan Partners & Reed Smith Social Trading & Marketing SeminarBlack Swan Partners & Reed Smith Social Trading & Marketing Seminar
Black Swan Partners & Reed Smith Social Trading & Marketing Seminar
 
David Chung Presentation - BDI 7/12/12 Social Media Security & Compliance Wor...
David Chung Presentation - BDI 7/12/12 Social Media Security & Compliance Wor...David Chung Presentation - BDI 7/12/12 Social Media Security & Compliance Wor...
David Chung Presentation - BDI 7/12/12 Social Media Security & Compliance Wor...
 
David Chung, ING Presentation - BDI 4/14/11 Financial Services Social Communi...
David Chung, ING Presentation - BDI 4/14/11 Financial Services Social Communi...David Chung, ING Presentation - BDI 4/14/11 Financial Services Social Communi...
David Chung, ING Presentation - BDI 4/14/11 Financial Services Social Communi...
 
David Chung, ING Presentation - BDI 2/23/12 Social Media in Wealth Management...
David Chung, ING Presentation - BDI 2/23/12 Social Media in Wealth Management...David Chung, ING Presentation - BDI 2/23/12 Social Media in Wealth Management...
David Chung, ING Presentation - BDI 2/23/12 Social Media in Wealth Management...
 
Social Media & Investor Relations: It’s NOT Oil and Water
Social Media & Investor Relations: It’s NOT Oil and WaterSocial Media & Investor Relations: It’s NOT Oil and Water
Social Media & Investor Relations: It’s NOT Oil and Water
 
Investor Relations & Emerging Media: NIRI St. Louis – May 2011
Investor Relations & Emerging Media: NIRI St. Louis – May 2011Investor Relations & Emerging Media: NIRI St. Louis – May 2011
Investor Relations & Emerging Media: NIRI St. Louis – May 2011
 
Joanna Belbey Presentation - BDI 10/20/11 Insurance Social Communications Lea...
Joanna Belbey Presentation - BDI 10/20/11 Insurance Social Communications Lea...Joanna Belbey Presentation - BDI 10/20/11 Insurance Social Communications Lea...
Joanna Belbey Presentation - BDI 10/20/11 Insurance Social Communications Lea...
 
ING Presentation - BDI 7/26/11 Social Media Security & Compliance Workshop fo...
ING Presentation - BDI 7/26/11 Social Media Security & Compliance Workshop fo...ING Presentation - BDI 7/26/11 Social Media Security & Compliance Workshop fo...
ING Presentation - BDI 7/26/11 Social Media Security & Compliance Workshop fo...
 
Leveraging Social Business Amid The Changing Regulatory Landscape - BDI 12/4/...
Leveraging Social Business Amid The Changing Regulatory Landscape - BDI 12/4/...Leveraging Social Business Amid The Changing Regulatory Landscape - BDI 12/4/...
Leveraging Social Business Amid The Changing Regulatory Landscape - BDI 12/4/...
 
Social Media and Financial Services presentation to Financial Planners Associ...
Social Media and Financial Services presentation to Financial Planners Associ...Social Media and Financial Services presentation to Financial Planners Associ...
Social Media and Financial Services presentation to Financial Planners Associ...
 
Investor Relations & Emerging Media – Presented at the NIRI Capital Area Chap...
Investor Relations & Emerging Media – Presented at the NIRI Capital Area Chap...Investor Relations & Emerging Media – Presented at the NIRI Capital Area Chap...
Investor Relations & Emerging Media – Presented at the NIRI Capital Area Chap...
 
The Social Advisor : Social Media Secrets for Savvy Advisors
The Social Advisor : Social Media Secrets for Savvy AdvisorsThe Social Advisor : Social Media Secrets for Savvy Advisors
The Social Advisor : Social Media Secrets for Savvy Advisors
 
Actiance Presentation - BDI 7/26/2011 Social Media Security & Compliance Work...
Actiance Presentation - BDI 7/26/2011 Social Media Security & Compliance Work...Actiance Presentation - BDI 7/26/2011 Social Media Security & Compliance Work...
Actiance Presentation - BDI 7/26/2011 Social Media Security & Compliance Work...
 

More from SocMediaFin - Joyce Sullivan

Social Media Strategy Session for The New York Community Trust Leadership Fel...
Social Media Strategy Session for The New York Community Trust Leadership Fel...Social Media Strategy Session for The New York Community Trust Leadership Fel...
Social Media Strategy Session for The New York Community Trust Leadership Fel...SocMediaFin - Joyce Sullivan
 
Baruch Executive MPA Social Media Strategy_June 6, 2015
Baruch Executive MPA Social Media Strategy_June 6, 2015Baruch Executive MPA Social Media Strategy_June 6, 2015
Baruch Executive MPA Social Media Strategy_June 6, 2015SocMediaFin - Joyce Sullivan
 
Making the Connection: Social Media and Public Policy with Professor Joyce Su...
Making the Connection: Social Media and Public Policy with Professor Joyce Su...Making the Connection: Social Media and Public Policy with Professor Joyce Su...
Making the Connection: Social Media and Public Policy with Professor Joyce Su...SocMediaFin - Joyce Sullivan
 
Joyce Sullivan and The Five Questions of Social Media
Joyce Sullivan and The Five Questions of Social MediaJoyce Sullivan and The Five Questions of Social Media
Joyce Sullivan and The Five Questions of Social MediaSocMediaFin - Joyce Sullivan
 

More from SocMediaFin - Joyce Sullivan (20)

Future Proofing Your Career by Joyce Sullivan
Future Proofing Your Career by Joyce SullivanFuture Proofing Your Career by Joyce Sullivan
Future Proofing Your Career by Joyce Sullivan
 
LinkedIn Essentials with Professor Joyce Sullivan
LinkedIn Essentials with Professor Joyce SullivanLinkedIn Essentials with Professor Joyce Sullivan
LinkedIn Essentials with Professor Joyce Sullivan
 
Social Media Strategy Session for The New York Community Trust Leadership Fel...
Social Media Strategy Session for The New York Community Trust Leadership Fel...Social Media Strategy Session for The New York Community Trust Leadership Fel...
Social Media Strategy Session for The New York Community Trust Leadership Fel...
 
LinkedIn Top Ten Tips - Essentials and Advanced
LinkedIn Top Ten Tips - Essentials and AdvancedLinkedIn Top Ten Tips - Essentials and Advanced
LinkedIn Top Ten Tips - Essentials and Advanced
 
NYCTLF_SocialMediaStrategy_Nov2015
NYCTLF_SocialMediaStrategy_Nov2015NYCTLF_SocialMediaStrategy_Nov2015
NYCTLF_SocialMediaStrategy_Nov2015
 
The Road to ARA 2015Expo and #YourTurnChallenge
The Road to ARA 2015Expo and #YourTurnChallengeThe Road to ARA 2015Expo and #YourTurnChallenge
The Road to ARA 2015Expo and #YourTurnChallenge
 
JoyceSullivanARAexpo2015
JoyceSullivanARAexpo2015JoyceSullivanARAexpo2015
JoyceSullivanARAexpo2015
 
LinkedIn Top 10 Tips Presentation
LinkedIn Top 10 Tips PresentationLinkedIn Top 10 Tips Presentation
LinkedIn Top 10 Tips Presentation
 
LinkedIn Essentials and Beyond Basics
LinkedIn Essentials and Beyond BasicsLinkedIn Essentials and Beyond Basics
LinkedIn Essentials and Beyond Basics
 
Baruch Executive MPA Social Media Strategy_June 6, 2015
Baruch Executive MPA Social Media Strategy_June 6, 2015Baruch Executive MPA Social Media Strategy_June 6, 2015
Baruch Executive MPA Social Media Strategy_June 6, 2015
 
Anatomy of a Tweet + Instagram, too
Anatomy of a Tweet + Instagram, tooAnatomy of a Tweet + Instagram, too
Anatomy of a Tweet + Instagram, too
 
Making the Connection: Social Media and Public Policy with Professor Joyce Su...
Making the Connection: Social Media and Public Policy with Professor Joyce Su...Making the Connection: Social Media and Public Policy with Professor Joyce Su...
Making the Connection: Social Media and Public Policy with Professor Joyce Su...
 
FiveQuestionsSocialMedia_AWMNYCTalkJan2015
FiveQuestionsSocialMedia_AWMNYCTalkJan2015FiveQuestionsSocialMedia_AWMNYCTalkJan2015
FiveQuestionsSocialMedia_AWMNYCTalkJan2015
 
Joyce sullivan bio_jan2013
Joyce sullivan bio_jan2013Joyce sullivan bio_jan2013
Joyce sullivan bio_jan2013
 
Joyce Sullivan and The Five Questions of Social Media
Joyce Sullivan and The Five Questions of Social MediaJoyce Sullivan and The Five Questions of Social Media
Joyce Sullivan and The Five Questions of Social Media
 
Joyce Sullivan, SocMediaFin
Joyce Sullivan, SocMediaFinJoyce Sullivan, SocMediaFin
Joyce Sullivan, SocMediaFin
 
Career Reinvention & Social Media Workshop
Career Reinvention & Social Media WorkshopCareer Reinvention & Social Media Workshop
Career Reinvention & Social Media Workshop
 
Social Media and Your Career w Joyce Sullivan
Social Media and Your Career w Joyce SullivanSocial Media and Your Career w Joyce Sullivan
Social Media and Your Career w Joyce Sullivan
 
Penn club sep10,2012-joycesullivan
Penn club sep10,2012-joycesullivanPenn club sep10,2012-joycesullivan
Penn club sep10,2012-joycesullivan
 
140 conf12 lindadescano_joycesullivan_jun20,2012
140 conf12 lindadescano_joycesullivan_jun20,2012140 conf12 lindadescano_joycesullivan_jun20,2012
140 conf12 lindadescano_joycesullivan_jun20,2012
 

Recently uploaded

What is an ecosystem in crypto .pdf
What  is  an  ecosystem  in  crypto .pdfWhat  is  an  ecosystem  in  crypto .pdf
What is an ecosystem in crypto .pdfKezex (KZX)
 
how to sell pi coins in Canada, Uk and Australia
how to sell pi coins in Canada, Uk and Australiahow to sell pi coins in Canada, Uk and Australia
how to sell pi coins in Canada, Uk and AustraliaDOT TECH
 
Abhay Bhutada: A Journey of Transformation and Leadership
Abhay Bhutada: A Journey of Transformation and LeadershipAbhay Bhutada: A Journey of Transformation and Leadership
Abhay Bhutada: A Journey of Transformation and LeadershipVighnesh Shashtri
 
New Stratus Corporate Presentation May 2024
New Stratus Corporate Presentation May 2024New Stratus Corporate Presentation May 2024
New Stratus Corporate Presentation May 2024Adnet Communications
 
how can I transfer pi coins to someone in a different country.
how can I transfer pi coins to someone in a different country.how can I transfer pi coins to someone in a different country.
how can I transfer pi coins to someone in a different country.DOT TECH
 
how can i make money selling pi coins in 2024
how can i make money selling pi coins in 2024how can i make money selling pi coins in 2024
how can i make money selling pi coins in 2024DOT TECH
 
how do I get a legit pi buyer in the internet (2024)
how do I get a legit pi buyer in the internet (2024)how do I get a legit pi buyer in the internet (2024)
how do I get a legit pi buyer in the internet (2024)DOT TECH
 
Juspay Case study(Doubling Revenue Juspay's Success).pptx
Juspay Case study(Doubling Revenue Juspay's Success).pptxJuspay Case study(Doubling Revenue Juspay's Success).pptx
Juspay Case study(Doubling Revenue Juspay's Success).pptxaryan963438
 
Abhay Bhutada’s Plan to Boost Financial Growth in 2024
Abhay Bhutada’s Plan to Boost Financial Growth in 2024Abhay Bhutada’s Plan to Boost Financial Growth in 2024
Abhay Bhutada’s Plan to Boost Financial Growth in 2024Champak Jhagmag
 
What exchange can I sell my pi coins in 2024
What exchange can I sell my pi coins in 2024What exchange can I sell my pi coins in 2024
What exchange can I sell my pi coins in 2024DOT TECH
 
how can i trade pi coins for Bitcoin easily.
how can i trade pi coins for Bitcoin easily.how can i trade pi coins for Bitcoin easily.
how can i trade pi coins for Bitcoin easily.DOT TECH
 
Jio Financial service Multibagger 2024 from India stock Market
Jio Financial service  Multibagger 2024 from India stock MarketJio Financial service  Multibagger 2024 from India stock Market
Jio Financial service Multibagger 2024 from India stock Marketfuturecapsadvisor
 
How can I withdraw my pi coins to real money in India.
How can I withdraw my pi coins to real money in India.How can I withdraw my pi coins to real money in India.
How can I withdraw my pi coins to real money in India.DOT TECH
 
where can I sell pi coins at the best rate (Market Price)
where can I sell pi coins at the best rate (Market Price)where can I sell pi coins at the best rate (Market Price)
where can I sell pi coins at the best rate (Market Price)DOT TECH
 
how can I sell my pi coins in the United States at the best price
how can I sell my pi coins in the United States at the best pricehow can I sell my pi coins in the United States at the best price
how can I sell my pi coins in the United States at the best priceDOT TECH
 
Will pi network launch in 2024: what's the update.
Will pi network launch in 2024: what's the update.Will pi network launch in 2024: what's the update.
Will pi network launch in 2024: what's the update.DOT TECH
 
is pi Network coin available for sale in 2024
is pi Network coin available for sale in 2024is pi Network coin available for sale in 2024
is pi Network coin available for sale in 2024DOT TECH
 
一比一原版Adelaide毕业证阿德莱德大学毕业证成绩单如何办理
一比一原版Adelaide毕业证阿德莱德大学毕业证成绩单如何办理一比一原版Adelaide毕业证阿德莱德大学毕业证成绩单如何办理
一比一原版Adelaide毕业证阿德莱德大学毕业证成绩单如何办理zsewypy
 
How can I sell my pi coins in Indonesia?
How can I  sell my pi coins in Indonesia?How can I  sell my pi coins in Indonesia?
How can I sell my pi coins in Indonesia?DOT TECH
 
how do i convert pi coins to usdt easily.
how do i convert pi coins to usdt easily.how do i convert pi coins to usdt easily.
how do i convert pi coins to usdt easily.DOT TECH
 

Recently uploaded (20)

What is an ecosystem in crypto .pdf
What  is  an  ecosystem  in  crypto .pdfWhat  is  an  ecosystem  in  crypto .pdf
What is an ecosystem in crypto .pdf
 
how to sell pi coins in Canada, Uk and Australia
how to sell pi coins in Canada, Uk and Australiahow to sell pi coins in Canada, Uk and Australia
how to sell pi coins in Canada, Uk and Australia
 
Abhay Bhutada: A Journey of Transformation and Leadership
Abhay Bhutada: A Journey of Transformation and LeadershipAbhay Bhutada: A Journey of Transformation and Leadership
Abhay Bhutada: A Journey of Transformation and Leadership
 
New Stratus Corporate Presentation May 2024
New Stratus Corporate Presentation May 2024New Stratus Corporate Presentation May 2024
New Stratus Corporate Presentation May 2024
 
how can I transfer pi coins to someone in a different country.
how can I transfer pi coins to someone in a different country.how can I transfer pi coins to someone in a different country.
how can I transfer pi coins to someone in a different country.
 
how can i make money selling pi coins in 2024
how can i make money selling pi coins in 2024how can i make money selling pi coins in 2024
how can i make money selling pi coins in 2024
 
how do I get a legit pi buyer in the internet (2024)
how do I get a legit pi buyer in the internet (2024)how do I get a legit pi buyer in the internet (2024)
how do I get a legit pi buyer in the internet (2024)
 
Juspay Case study(Doubling Revenue Juspay's Success).pptx
Juspay Case study(Doubling Revenue Juspay's Success).pptxJuspay Case study(Doubling Revenue Juspay's Success).pptx
Juspay Case study(Doubling Revenue Juspay's Success).pptx
 
Abhay Bhutada’s Plan to Boost Financial Growth in 2024
Abhay Bhutada’s Plan to Boost Financial Growth in 2024Abhay Bhutada’s Plan to Boost Financial Growth in 2024
Abhay Bhutada’s Plan to Boost Financial Growth in 2024
 
What exchange can I sell my pi coins in 2024
What exchange can I sell my pi coins in 2024What exchange can I sell my pi coins in 2024
What exchange can I sell my pi coins in 2024
 
how can i trade pi coins for Bitcoin easily.
how can i trade pi coins for Bitcoin easily.how can i trade pi coins for Bitcoin easily.
how can i trade pi coins for Bitcoin easily.
 
Jio Financial service Multibagger 2024 from India stock Market
Jio Financial service  Multibagger 2024 from India stock MarketJio Financial service  Multibagger 2024 from India stock Market
Jio Financial service Multibagger 2024 from India stock Market
 
How can I withdraw my pi coins to real money in India.
How can I withdraw my pi coins to real money in India.How can I withdraw my pi coins to real money in India.
How can I withdraw my pi coins to real money in India.
 
where can I sell pi coins at the best rate (Market Price)
where can I sell pi coins at the best rate (Market Price)where can I sell pi coins at the best rate (Market Price)
where can I sell pi coins at the best rate (Market Price)
 
how can I sell my pi coins in the United States at the best price
how can I sell my pi coins in the United States at the best pricehow can I sell my pi coins in the United States at the best price
how can I sell my pi coins in the United States at the best price
 
Will pi network launch in 2024: what's the update.
Will pi network launch in 2024: what's the update.Will pi network launch in 2024: what's the update.
Will pi network launch in 2024: what's the update.
 
is pi Network coin available for sale in 2024
is pi Network coin available for sale in 2024is pi Network coin available for sale in 2024
is pi Network coin available for sale in 2024
 
一比一原版Adelaide毕业证阿德莱德大学毕业证成绩单如何办理
一比一原版Adelaide毕业证阿德莱德大学毕业证成绩单如何办理一比一原版Adelaide毕业证阿德莱德大学毕业证成绩单如何办理
一比一原版Adelaide毕业证阿德莱德大学毕业证成绩单如何办理
 
How can I sell my pi coins in Indonesia?
How can I  sell my pi coins in Indonesia?How can I  sell my pi coins in Indonesia?
How can I sell my pi coins in Indonesia?
 
how do i convert pi coins to usdt easily.
how do i convert pi coins to usdt easily.how do i convert pi coins to usdt easily.
how do i convert pi coins to usdt easily.
 

Joyce Sullivan presents Financial Services and Social Media to Edelman NYC

  • 1. Exclusive Presentation for: 250 Hudson St – 16th floor (PH) New York, NY USA Thursday, March 29, 2012 2:00-3:00 pm EDT Financial Services and Social Media Created and Presented by: Joyce Sullivan CEO | Founder SocMediaFin.com
  • 2. Exclusive Presentation for: 250 Hudson St – 16th floor (PH) New York, NY USA Thursday, March 29, 2012 2:00-3:00 pm EDT Financial Services and Social Media AGENDA: 2:00 – 2:05 overview and introductions 2:05 – 2:10 financial services and social media use 2:10 – 2:15 industry trends 2:15 – 2:25 USA: SEC and FINRA compliance and regulation update UK, Canada: social media regulation and financial services 2:25 – 2:30 compliant use of LinkedIn, Facebook, Twitter and more… 2:30 – 2:35 who owns social in financial services firms? 2:35 – 2:40 what’s next for financial services and social media use 2:40 – 2:50 discussion and questions Created and Presented by: Thank you! Joyce Sullivan CEO | Founder SocMediaFin.com
  • 3. Visit us > SocMediaFin.com 3
  • 4. Visit us > SocMediaFin.com 4
  • 6. 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  Why are some firms using social media and others are not?  What can you do to bring Social Media to your organization  Next Steps to make it happen @JoyceMS ullivan @SocMedi aFin
  • 7. US Industry Trends: Shrinking and Growing Industries 2007 - 2 Council of Economic Advisors, February 2012 report 7
  • 8. US Industry Trends: Shrinking and Growing Industries 2007 - 2 Council of Economic Advisors, February 2012 report 8
  • 9. Who are you? Social Media Strategy for 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
  • 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 @JoyceMS ullivan @SocMedi aFin
  • 15. FINRA Regulation 11-39 @JoyceMS ullivan @SocMedi aFin
  • 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. FINRA Classification of Social Networking Activities Is it…? - Public Appearance - Advertisement - Correspondence It depends…  Public Appearances are unscripted participation in an interactive forum such as a chat room or online seminar  Advertisements are the static written content available for access online. This includes the static content on a blog, FaceBook profile, Twitter profile and LinkedIn profile. Profile includes any background or wall information posted.  Correspondence would be email communications that are sent one-on-one through the email system of social media sites.  The different classifications affect whether or not it requires Registered Principal pre-approval, post-monitoring or possible marketing filings with FINRA. Source: FINRA NTM 10-06 @joycemsullivan
  • 20. Supervision and Monitoring  Firms must establish policies that are reasonably designed to ensure their social media activities do not violate general rules outlined in Regulatory Notice 07-59 General Requirements 4.Written policy and procedures that are disseminated throughout the firm 5.Identify what types of communications require review 6.Identify which persons are responsible for supervision. This should include business employees because certain functions may be performed by non-compliance employees. 7.Outline the method of review 8.Frequency of the review 9.Documentation that reviews were carried out  Conduct compliance training  Identify how complaints are handled  Identify which employees have access to social media sites via the firm’s network  Continually evaluate social media activities for compliance Source: FINRA NTM 07-59 @joycemsullivan
  • 21. Recordkeeping Requirements  What records are required to be kept in social media activities  Static Postings  Discussion threads  Third Party Postings  For FINRA member broker dealers:  3 years with the last 2 years in an easily accessible place [FINRA Rule 2210 (b)(2)(A) and 3110]  For SEC registered investment advisors:  5 years with the last 2 years in an easily accessible place [SEC Rule 17a-3 and 17a-4 of the ‘34 Act]  Regulators do not endorse any particular record keeping technology or vendor, nor acknowledges that there are adequate technologies that exist. Source: FINRA NTM 07-59 @joycemsullivan
  • 22. FINRA Regulatory Notice 10-06 Guidelines for Social Networks Regulation Social Network and Web 2.0 Impact SEC Rules 17a-3 and Retain records of communications related to business 17a-4 and NASD rule 3110 Public Appearances Electronic forums and chat rooms, content posted to social media may constitute a pubic appearance Prior Approvals Wall postings require prior approval Participation Real time participation on social networks equals participation FINRA Regulatory Notice For instance, communications between research and investment 07-59 banking departments should be restricted Restrict personnel Only those subject to firm’s supervision should have access, providing training prior to engagement, prohibit or restrict those who pose a compliance risk. Restrict access with technology @joycemsullivan
  • 23. Possible interpretations for FINRA regulations impact on Social Media Sites: Facebook / LinkedIn / Twitter Rule or Notice Summary of rule or notice Facebook LinkedIn Twitter Features Features Features Impacted Impacted Impacted FINRA Allows for registered representatives to • Profile • Profiles • Profile Regulatory participate in real-time • Chat • Group discussions • Tweets Notice 10-06 communications, but care still needs to • Compose Message • Share an update • Retweets (Guidance for be given to the content of the message. • Status update • Send a message • Replies social media In interactive electronics forums, such • Wall postings • Recommendations web sites) as chat rooms, prior approval of • Upload photos • Replies extemporaneous remarks isn’t required • Upload video • Like FINRA Members should take steps to reduce, • Profile • Profiles • Profile Regulatory manage, or eliminate potential conflicts • Chat • Group discussions • Tweets Notice 07-59 of interest, to prevent electronic • Compose Message • Share an update • Retweets (Conflicts of communications between certain • Status update • Send a message • Replies Interest) individuals/groups or monitoring • Wall postings • Recommendations communications as required by FINRA • Upload photos • Replies rules. • Upload video • Like @joycemsullivan
  • 24. Working with Your Legal and Compliance Department Don’t assume your legal and compliance colleagues.. - “get it” or immediately think it’s a cool idea - understands social media concepts or even likes it - understands your social media business plans - are fully versed in social media regulations Do: - start with the basics in educating them on social networking sites - provide them with a comfort level with the technology - provide them with articles and research related to social media compliance - inform them what your competitors are doing in this space - invite the tech department to be part of the conversation - propose running a pilot project to test the waters - internal test with other employees (intranet) - external test with selected pilot clients @joycemsullivan
  • 25. Best Practices DO 3.Discuss macro economic concepts 4.Discuss various sectors or industries 5.Discuss retirement concepts 6.Educate the public on financial markets and products 7.Post company non-product or services related announcements 8.Post messages that have a broad appeal (i.e. charity events or good will activities) 9.Post generic responses to third-party postings DON’T 12.Mention individual stocks or investment names 13.Provide investment advice 14.Promote your products and services 15.Make provocative or promissory statements regarding direction of the markets or price of commodities 16.No retweets on Twitter 17.No ‘Likes’ on Facebook 18.No unauthorized employee postings @joycemsullivan
  • 26. FINRA Advertising Compliance Resource http://www.finra.org/Industry/Issues/Advertising/index.htm  Compliance Considerations for Social Networking Sites Webinar - On Demand  Implementing Compliance Practices for Social Media - On Demand  What to Expect: Filing Communications for FINRA Review - Webcast  Guide to the Internet for Registered Representatives  Online Advertising Report  Advertising Regulation Electronic Files  SIPC Information  529 College Savings Plans  Member Alerts (2007-2001)  Regulatory & Compliance Alert Article Reference Guide  Member Update - NASD Review of Hedge Fund Advertising Results in Formal Action  Advertising Regulation – Notices by Year 2011-1996  Advertising-Related News Releases by Year 2011-2002  Advertising-Related Interpretive Letters  Advertising-Related Investor Alerts @joycemsullivan
  • 27. Questions ? 27
  • 28. Thank you! Connect with me! LinkedIn: http://linkedin.com/in/joycemsullivan Website: http://socmediafin.com Twitter: http://twitter.com/joycemsullivan Google+: Joyce Sullivan on Google Plus Facebook: SocMediaFin, Inc on Facebook CNBC TV: Joyce Sullivan on WSJR with Maria Bartiromo 28
  • 29. Exclusive Presentation for: 250 Hudson St – 16th floor (PH) New York, NY USA Thursday, March 29, 2012 2:00-3:00 pm EDT Financial Services and Social Media AGENDA: 2:00 – 2:05 overview and introductions 2:05 – 2:10 financial services and social media use 2:10 – 2:15 industry trends 2:15 – 2:25 USA: SEC and FINRA compliance and regulation update UK, Canada: social media regulation and financial services 2:25 – 2:30 compliant use of LinkedIn, Facebook, Twitter and more… 2:30 – 2:35 who owns social in financial services firms? 2:35 – 2:40 what’s next for financial services and social media use 2:40 – 2:50 discussion and questions Created and Presented by: Thank you! Joyce Sullivan CEO | Founder SocMediaFin.com
  • 30. Exclusive Presentation for: 250 Hudson St – 16th floor (PH) New York, NY USA Thursday, March 29, 2012 2:00-3:00 pm EDT Financial Services and Social Media Created and Presented by: Joyce Sullivan CEO | Founder SocMediaFin.com