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Tag Archives: FINRA

The Guide to Social Media and the Securities Laws

Posted in Securities Law

REGULATION FD Beginning in 1999 and continuing into 2000, media reports about selective disclosure of material nonpublic information by issuers raised concerns that select market professionals who were privy to this information profited at the expense of others. A consensus began to emerge that selective disclosure (1) adversely affects market integrity (to a similar extent… Continue Reading

Behind the Curve – Are Legal and Regulatory Concerns Preventing UK Financial Service Companies From Fully Harnessing Social Media?

Posted in Financial Institutions

Today’s consumers want to engage in a new way with the companies from which they buy goods and services.  Although some UK financial services organisations are leading the way in terms of their use of social media, on the whole, engagement in social media by UK financial services firms is still relatively limited. This is… Continue Reading

FINRA Issues Sweep Letter Regarding Use of Social Media

Posted in Financial Institutions, Securities Law

FINRA, having enacted new communications rules that specifically reference electronic communications, having issued two Regulatory Notices (linked here and here) providing guidance to the securities industry on social media, and having made social media and electronic communications exam priorities in two of the last three years, is now taking the next logical step:  conducting a… Continue Reading

Use of Social Media for Issuers, Broker-Dealers and Advisers, and Investment Companies

Posted in Event

Readers in the New York area, please join us for a complimentary, in-person event on Tuesday, May 28. Recently, regulators provided some additional guidance regarding the use of social media channels to disseminate issuer information. FINRA and the Commission also have been focused on the use of social media by registered broker-dealers, and by investment… Continue Reading

California Provides Social Media Guidance for Financial Institutions

Posted in Financial Institutions

While Facebook, Twitter, LinkedIn and other social media platforms have become an increasingly important tool for businesses across industries to meet their customers’ needs and expectations, financial institutions have been slow to embrace social media.  This is likely attributable to the highly regulated environment in which financial institutions operate, the unique risks associated with operating… Continue Reading

Updated FINRA Guidance on Social Media Websites and the Use of Personal Devices

Posted in Securities Law

On August 18, 2011, the Financial Industry Regulatory Authority, Inc. (“FINRA”) issued Regulatory Notice 11-39 providing guidance to broker-dealer members on social networking websites and business communications.  The notice represents FINRA’s first update to its guidance on social media since the release of Regulatory Notice 10-06 in January 2010. Regulatory Notice 11-39 merely clarifies existing… Continue Reading