InfoAnda - Advisers still shaky on social media policy |

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

EBay says no changes to Skype IPO plans | Technology | | 31 July 2009
Taiwan's HTC denies infringing iPhone patents | 3 March 2010
Afghan bomb blast kills 12 ahead of vote | 3 August 2009

Summer blockbusters present musical challenges | 19 April 2010

Forum Views () Forum Replies ()

Read more with google mobile : Advisers still shaky on social media policy |

Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Home Business Business Home Economy Technology Media Small Business Legal Deals Earnings Social Pulse Business Video The Freeland File Markets Markets Home U.S. Markets European Markets Asian Markets Global Market Data Indices M&A Stocks Bonds Currencies Commodities Futures Funds peHUB World World Home U.S. Brazil China Euro Zone Japan Mexico Russia India Insight World Video Reuters Investigates Decoder Politics Politics Home Election 2012 Issues 2012 Candidates 2012 Tales from the Trail Political Punchlines Supreme Court Politics Video Tech Technology Home MediaFile Science Tech Video Tech Tonic Social Pulse Opinion Opinion Home Chrystia Freeland John Lloyd Felix Salmon Jack Shafer David Rohde Bernd Debusmann Nader Mousavizadeh Lucy P. Marcus David Cay Johnston Bethany McLean Edward Hadas Hugo Dixon Ian Bremmer Lawrence Summers Susan Glasser The Great Debate Steven Brill Jack & Suzy Welch Frederick Kempe Christopher Papagianis Breakingviews Equities Credit Private Equity M&A Macro & Markets Politics Breakingviews Video Money Money Home Tax Break Lipper Awards 2012 Global Investing MuniLand Unstructured Finance Linda Stern Mark Miller John Wasik James Saft Analyst Research Alerts Watchlist Portfolio Stock Screener Fund Screener Personal Finance Video Money Clip Investing 201 Life Health Sports Arts Faithworld Business Traveler Entertainment Oddly Enough Lifestyle Video Pictures Pictures Home Reuters Photographers Full Focus Video Reuters TV Reuters News Article Comments (0) Follow Reuters Facebook Twitter RSS YouTube Read Dewey files for Chapter 11 in record law firm collapse 29 May 2012 Facebook shares plumb new depths, valuation questioned | 29 May 2012 Obama honors Dylan, other "heroes" for their influence 29 May 2012 Biggest Greek bank warns of dire euro exit fallout 29 May 2012 Romney clinches Republican 2012 nomination in Texas 1:59am EDT Discussed 150 Romney tells vets dangerous world demands powerful military 105 Iran has enough uranium for five bombs: expert 102 Protests planned after minister calls for gays to be fenced in Watched A look at the UK’s most beautiful face Thu, May 10 2012 Volcano covers Colombian cities in ash Tue, May 29 2012 Cruise ship crunch Sat, May 26 2012 Advisers still shaky on social media policy Tweet Share this Email Print Related News Facebook market makers' losses at least $100 million Fri, May 25 2012 Exclusive: Fidelity facing "thousands" hit by Facebook woes Fri, May 25 2012 Shareholders sue Facebook, NYSE comes calling Thu, May 24 2012 Facebook, banks sued over pre-IPO analyst calls Wed, May 23 2012 Regulators, investors turn up heat over Facebook IPO Wed, May 23 2012 Analysis & Opinion Offshore U.S. oversight of derivatives may bolster defenses against JPMorgan-type losses Five steps the SEC can take to make crowdfunding work Related Topics Tech » Media » Facebook » In this photo illustration, a Facebook logo on a computer screen is seen through a magnifying glass held by a woman in Bern May 19, 2012. Picture taken May 19, 2012. Credit: Reuters/Thomas Hodel By Jason Wallace Suzanne Barlyn Wed May 30, 2012 4:04am EDT (Reuters) - As the securities industry finally warms up to using social media sites such as Facebook and LinkedIn, regulators are discovering that brokerages and investment advisers are off to a rocky start. Some firms are making major missteps as they ramp up their presence on the sites, and many do not even have social networking policies. Or if they do, many have inadequate guidelines. And while many brokerages and investment advisers were once reluctant to use social media for their work, a growing number find they cannot ignore the marketing opportunity. They are increasingly using social media sites to increase their presence among customers and to recruit new business from investors. A recent survey by the Massachusetts Securities Division found that 44 percent of the state's investment advisers use at least one social media site. More are expected to use social media within the next year. Social networking sites, however, have caused a great deal of angst for compliance departments at firms. Many compliance professionals have worried that using social media would expose their firms to scrutiny from regulators for, among other things, not saving copies of the messages sent through the sites. But findings from industry regulators suggest that some firms are not taking that scrutiny as seriously as they once did, and brokerages that still prohibit social media use can be sloppy about making their policies known. For example, the Financial Industry Regulatory Authority, the retail brokerage industry's self-funded regulator, asked questions about social media in more than 1,000 brokerage examinations since mid-2010. Not having a social media policy in place - even one prohibiting the use of social media - was the most common violation of industry regulations, according to Amy Sochard, director of advertising regulation at FINRA. But simply adopting a policy does not guarantee a smooth examination, a periodic regulatory review for brokerages. Failing to enforce existing social media policies, whether through record keeping or the storage of electronic communications, was the second most common violation, Sochard said at a recent FINRA conference. Similar problems are cropping up at registered investment advisers, which are regulated by the SEC and by state regulators. HOW ONE FIRM FELL SHORT A recent follow-up letter to a registered investment adviser examined by a state regulator gives clues about the scrutiny firms can expect as they ramp up social media communications. In the letter, obtained by Reuters, the regulator said the investment adviser did not create and outline proper procedures for social media use and did not adequately train employees. Simple guidelines, however, such as what types of posts were allowed or not, did not exist. The source who provided the letter to Reuters asked that neither the firm nor the state involved be identified. The firm, whose employees often used LinkedIn and Facebook, also fell short by not checking up on their activities there, even though it hired an outside company to save messages employees sent through the sites. The regulator suggested mapping out a periodic review of those details. Investment firms "are shooting themselves in the foot," said Scott Peterson, co-founder of Relay Station Social Media LLC, a Washington-based consultancy. "Social media is its own kind of animal" and requires a policy of its own, he said. Regulators typically send so-called "exam deficiency" letters after examinations of both brokerages and investment advisers to outline compliance problems that a firm needs to correct. Another issue for compliance professionals is crafting a clear policy to require prior approval of employees' posts to the site, or spelling out procedures for ensuring that employees are acting in the best interests of their clients, in the event employees post investment recommendations. WHAT DOES 'LIKE' MEAN? An ongoing struggle for advisers is uncertainty over whether investors who click the "like" button on an adviser's Facebook pages are effectively giving testimonials, or a positive endorsement about the adviser. Similar questions also apply to recommendations clients may write for an adviser on professional networking sites, such as LinkedIn. Use of client testimonials about an adviser's investment skills is a heavily regulated area. The practice is severely restricted for brokerages and not even permitted for registered investment advisers. Still, there is little clarity from regulators about whether they may construe a "like" as a "testimonial." The SEC, in guidance from examination results it published in February, mentioned the concern, but left the question open. Firms that are already concerned about clients "liking" their advisers on Facebook may be even more jittery after seeing how that detail was addressed during the state examination. The state regulator asked the adviser to provide an explanation about why it does not consider a "like" on Facebook to be considered a testimonial. If the adviser cannot provide that explanation, it will have to disable the "like" button, according to the letter. One state that is among the few that are more specific is Massachusetts. Guidance released by Massachusetts securities regulators in January concluded that clicking the "like" button on Facebook, without further client commentary, is not considered a testimonial. But uncertainty over "liking" and more social media issues in other jurisdictions will eventually lead to additional input from regulators, said Paul Cox, chief executive of Business Compliance Partners, a San Diego-based compliance consulting firm. "At the current volume of social media deficiencies discovered during examinations, creating new rules and issuing new guidance will be warranted and required in the future," Cox said. (Reporting By Jason Wallace of Thomson Reuters Accelus and Suzanne Barlyn; Editing by Walden Siew and Leslie Adler) Tech Media Facebook Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above. Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Back to top Reuters.com Business Markets World Politics Technology Opinion Money Pictures Videos Site Index Legal Bankruptcy Law California Legal New York Legal Securities Law Support & Contact Support Corrections Connect with Reuters Twitter Facebook LinkedIn RSS Podcast Newsletters Mobile About Privacy Policy Terms of Use AdChoices Copyright Our Flagship financial information platform incorporating Reuters Insider An ultra-low latency infrastructure for electronic trading and data distribution A connected approach to governance, risk and compliance Our next generation legal research platform Our global tax workstation Thomsonreuters.com About Thomson Reuters Investor Relations Careers Contact Us Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

Other News on Wednesday, 30 May 2012
Qatar safety standards questioned after more fires |
Israel pours cold water on big-power talks with Iran |
Mexico presidential front-runner suffers poll setback |
Tunisia judges start indefinite strike over purge |
Putin aide seeks to calm worries over Russia-U.S. ties |
French unions warn of mass job cuts in reform talks |
Yemen army outflanks rebel-held Jaar: official |
BlackBerry maker RIM hires bankers, warns of loss |
UN agency plans major warning on Flame virus risk |
Obama honors Dylan, Morrison, 11 others for incredible impact |
West expels envoys over massacre of Syrian children |
Top UK court backs extradition of Assange to Sweden |
Myanmar's Suu Kyi gets hero's welcome in Thailand |
For Pakistani truckers, NATO route row is all about the money |
Poland seeks U.S. apology for Obama Holocaust comments |
Japan PM, Ozawa still apart on tax, opposition deal beckons |
Developing rule of law critical for China, says blind activist |
Greece's pro-bailout conservatives leading in poll |
Big expansion planned for overcrowded Bangkok airport |
Mexican police patrol PepsiCo warehouses after arson fires |
Advisers still shaky on social media policy |
Former Finnish PM Aho to leave Nokia management |
BlackBerry maker RIM sees operating loss, shares slump |
Olympus to cut 2,500 jobs, sell equity stake: media |
Mexico's Slim sticks to offer in raid on KPN |
HTC says phones pass U.S. customs review |
A Minute With: David Hasselhoff talking Piranha 3-DD |
Obama honors Dylan, other heroes for their influence |
North Carolina folk artist Doc Watson dies at 89 |
American kidnapped in West Africa's Benin |
Violent Arab ghetto shows Israel's seamy underside |
Vatican crisis highlights pope failure to reform Curia |
Twenty seven killed as Yemen army repels militant ambush |
Image shows buildings gone at Iran site: diplomats |
EU says alarmed by rise in death sentences in Iran |
Italians count human, economic cost of earthquake |
Bin Laden case doctor jailed for militant link |
IP traffic to grow 29 percent per year through 2016: Cisco |
Analysts skeptical as RIM reviews strategy |
ABB fuels data centre growth with DC power |
Verizon doubling FiOS speed to 300 megabits/second |
Lee family scraps over some of Samsung riches |
Thailand furious at Lady Gaga's fake Rolex tweet |
Edinburgh Film Fest new director seeks broad revival |
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph	VPN on MacOSX	BlogMeter 1.01