FINRA has recently issued guidance and Q&A on registered reps use of social networking web sites, blogs and other forms of social media. Use of sites such as Facebook, Twitter and LinkedIn for business purposes by reps falls under FINRA’s rules on communications with the public and requires policies and procedures as they apply to each firm’s recordkeeping, suitability and supervision responsibilities. A firm’s WSP should be updated accordingly, including procedures for monitoring and reviewing e-mails, content and blogs via social media.
Also see FINRA Regulatory Notice 07-59.
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