Questions Compliance Asks

Navigate the FINRA regulations when using Social Media

Learn how financial professionals are leveraging social media and managing the compliance component on the blog. Read Compliant Social Media – How to Do It. It includes a how-to webinar with guest Chris Winn, managing partner at Advisor Assist, on getting started with social media and also illustrates how we provide a compliant solution.

Q. Can you block sites?

A. No. Blocking is nearly impossible with the proliferation of business and personal mobile devices and that the social platforms are built for public use. Your employees use social media based upon the social media policy and guidelines you provide for regulatory and best practices in representing your organization and brands. Our approach provides the solution for archiving, monitoring, maintaining and surveillance of the activities on social media (and the web at large) for your firm. You may block access to sites via firewall within the corporate network – we can also continue archiving from these sites for content managed outside the corporate firewall.

Q. Can you turn off features?

A. No. we cannot turn off features and no social media archiving system can turn off features to social sites that are beyond your firm’s control (public systems and networks). What you can control is what your employees say and do on those sites while identified as your employee. A policy and guidelines approach that spells out what is acceptable and what is not is the only way to control that your employees’ social media participation is within the regulations and within your firm’s internal rules for conditions of employment.

Q. Do I have a surveillance dashboard allowing me to monitor everybody?

A. Yes. Your administrative and/or compliance staff can review all social accounts archiving. This includes “point and click” review as well as the ability to search, filter, export to Excel and save 1-click reports for future use.

Q. Can I use your archives on my existing compliance dashboard?

A. We offer a number of ways to export and integrate social media archives with your business:

• Through Excel & XML export, on-demand, for analysis, handling and other use
• Through automated delivery of the archives to a destination of your choosing via email & other technical methods