<< A Magazine For People Named Fred | Schwab Performance Technologies Q&A >>

FINRA Notice On Social Media Reveals Regulators’ Struggle

by Andrew Gluck 1/26/2010 12:29:00 AM

Guidelines issued by FINRA yesterday governing how registered reps use social media websites are constructive but highlight the challenge regulators face in structuring advertising rules that keep up with technology.

One can only cheer the suddenly enlightened view of FINRA in releasing the Notice. FINRA has stood silent for several years while social networking exploded. As the FINRA release points out, 46% of American internet users logged on to a social networking site in 2009.

With FINRA issuing no guidance as social media exploded in popularity in recent years, registered reps were absent from the online scene out of fear that they would break undefined rules. So FINRA in to be commended for finally bringing some clarity to this issue.

Where the guidelines go wrong and muddle the rules, however, is in an effort to distinguish “static” and “non-static” content.

To read the rest of my post, please sign up for membership at Advisors4Advisors.

Be the first to rate this post

Currently 0/5 Stars.
1
2
3
4
5

Tags:

Power Of Social Media Seen In Haiti EarthquakeAre You Too Sexy For Social Networking?If you wait for your target client to seek you out, you won’t see the value in social networking. Yo...What Would FINRA Do?Investment advisors who have reflexively blasted SEC Chairman Mary Schapiro for saying the governmen...

Add comment

Name*
E-mail*
Website
Country Country flag

Captcha*

Comment* [b][/b] - [i][/i] - [u][/u]- [quote][/quote]

Notify me when new comments are added

Live preview

3/14/2010 11:04:01 AM

Commented By

About

The Andrew Gluck Blog explains the ideas behind the most innovative marketing strategies used by financial advisors as well as technology, practice management, and other issues affecting the independent advisor business.

Author

Andrew Gluck
CEO
Andrew Gluck is a veteran financial reporter and the founder and CEO of Advisor Products Inc., a marketing company serving 1,800 financial advisory firms. Founded in 1996, Advisor Products has...more

LinkedIn