Developing a Social Media Game Plan Adapting compliance programs to the risks of social media sites
August 23, 2011
1:00 PM – 3:00 PM ET
Description: Friends and profiles, professional networking, micro-blogging, Facebook, LinkedIn and Twitter must now be addressed in your compliance program. Remember, potential clients often check out social media sites to vet an investment adviser. Moreover, the SEC has asked advisers for documentation on how they use social-media sites such as Facebook, Twitter, LinkedIn, YouTube and Flickr, among others – as well as blogs. Examiners are also gathering more information about advisers' policies that govern how their employees may – or may not – use social media. In addition, the SEC has requested information about how advisory firms retain records of its employees' use of social media. This includes non-business use of social media and networking sites.
Are your employees using firm premises and equipment to communicate with clients in the social networking environment? Is e-marketing being conducted? What about the confidentiality of firm and client information? This seminar will bring you up to speed on these communication portals, the risks they pose and regulators' expectations regarding oversight and supervision.
After attending this course, attendees should be able to:
- Define the various social media (i.e. Facebook, LinkedIn, Twitter, etc.) and their uses by firm employees
- List the SEC and FINRA requirements pertaining to advertising, recordkeeping, oversight and supervision
- Identify the risks posed by the use of social networking sites
- Develop and apply effective compliance procedures to monitor and supervise use of social media sites by employees
- Prepare for SEC social media sweep
For Whom: Chief Compliance Officers, Legal counsel, Compliance Staff at all levels, Management, IT staff, Marketing
Suggested Skill Level: Intermediate
Instructional Method: Group-Internet-Based
Pre-requisites for participation: No prerequisites are required. However, attendees can benefit by reviewing the Investment Advisers Act of 1940 to become familiar with the structure and terms.
Continuing Education Credits:
See NRS Continuing Education Guide
Recommended CPE Credit: 2
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