Social Media Compliance for Financial Services


Morgan Stanley’s decision to loosen the reign for their financial advisers on Twitter is the latest in a long list financial services social media case studies.

FINRA fined Barclays $3.75M for system is record keeping and email retention failure. And last June, the regulator warned investors against trading on “pump-and-dump” emails.

The finance industry has their social media conferences and consultants.

Because of specific finance industry rules and regs like FINRA 10-06 and 11-39 and SEC Risk Alert: Investment Adviser Use of Social Media, using social media in financial services must be in accordance with applicable advertising, account origination and document retention requirements.

Mike Langford is the CEO of finservMarketing and a financial services industry veteran with 20 years of experience in roles spanning customer service, finance and investment advice and management at Fidelity Investments, State Street Corporation, The Pioneer Group and BFDS.

In this podcast, he explains how Certified Financial Planners, Investment Advisers and Bankers can use social media effectively and responsibly.

Social Media for Financial Services Topics Discussed

  • Who regulates how financial service companies use social media
  • Difference between social media guidelines and actual, enforceable law
  • Social media compliance requirements for financial services providers
  • How to satisfy social media archival and supervisory requirements
  • Responsibilities for financial services over static vs. interactive social media posts
  • Best practices for originating new accounts on LinkedIn, Twitter and Facebook
  • Regulating advertising and public appearances, which social media is considered
  • Avoiding adopting or becoming entangled with social networking sites
  • Compliance through policy and social media training for financial services
  • How to make you’re prepared to comply with random FINRA spot checks
  • And much, much more

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