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A continued discussion from our Basics webinar series - the makeup of the social media policy in financial services.
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The Social Media Policy
Blane WarreneSVP, Customer Communications
Webinar
Housekee
ping
Tweet = During (and after) the webinar, please use #regedqanda for live discussion
Questions? Please use Questions box in the webinar panel
The webinar recording will be emailed to all attendees and registrants
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@blano’s Tag Cloud
What We Will Discuss
Getting Started on Social is driven by strategy and policy
Who, What, When, Where and How?
Your Policy is a Business Plan ‘AND’ Governance Document
But first…
Where do we start?
The Problem? Who is authorized?
Which platforms
Your governance and ethics
Approved technology
Signed affirmations
Mitigation & Management
Who is the next generation?
Social = SharingIt’s aboutLearning and EngagementConversation and Community
Don’t be too restrictive…
Who is the next generation?
Model for Content
Web site and
blog
Social Platforms
Digital Marketing
Digital Events
(webinars)
Who is the next generation?
Anticipate Mediums
Text+ Audio
Video
Interactive
Core of the PolicyTraining
Archiving
Attestation
Monitoring
Governance Outline regulations to meet
‒ Retention and Surveillance
‒ Review and Monitoring
‒ Broad Search – rogue accounts, complaints…
Written Supervisory Procedures
Lexicons and Searches
Pre-Approving Content
Identify FINRA & SEC Rules that Apply
Define Monitoring Methods
Compliance Landscape
Guidance from FINRA & SEC2010 through 2012
Now Live! FINRA12-29 (February 2013)
Best Practice:– Social Media Policy – Archive Content and
Engagement– Reporting and Monitoring Tools
Trigger was Netflix
March 15th - SEC
April 2nd - SEC
What Changed in 2013
The SEC Links…
March 15th - http://1.usa.gov/146Dsyn
April 2nd - http://1.usa.gov/174oQDR
FINRA Comments May 2013…While there are a few main things firms and advisors need to address, including record keeping, supervising business communications and content requirements, generally the rules shouldn’t be too hard to follow, says Joe Price, the senior vice president of corporate financing and advertising regulation for FINRA
“I don’t think the rules of the road are overly complex,” he says. “There are pretty straight forward principles to apply.”
Price acknowledges the rules are not hard and fast, but says they were purposefully designed to be flexible to keep up with a rapidly changing environment. Price gave an example of where the flexibility comes into play: An advisor having to “like” a page to participate in a conversation doesn’t necessarily mean that the advisor “likes” all the content on there. “It’s not that hard if you keep the principles in mind,” Price adds.
1 Archive and RetainChoosing Technology
2 Reporting automation
How do you collect data?
Surveillance and Ad Hoc tools
3 Monitoring
Monitor, study and analyze
Systematic Steps of Social Media
Train
Best Practice
Tech ToolsMonitor
Adapt
A Resource from Us
Ask us for our Compliance Kit
http://bit.ly/complykit
Resources
Educational Podcast - http://bit.ly/regedsocial“The Social Media Minute” on iTunes
Breaking Barriers to Social Webinar Serieshttp://bit.ly/regedwebinars
Quick Start Guides on Social Mediahttp://www.reged.com/socialmedia.aspx
Connect with Us on Social
Facebook – http://www.facebook.com/regedarkoviGoogle+ - http://bit.ly/regedgoogleLinkedIn - http://www.linkedin.com/company/regedPinterest - http://pinterest.com/regedarkovi/Twitter – http://www.twitter.com/regedYouTube – http://www.youtube.com/arkovibackups
Q&APlease use the "Questions" section on the webinar panel
And we'll stay and monitor #regedqanda on Twitter