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Tag Archives: social media

UK’s Financial Services Regulator Releases Guidance on Financial Promotions in Social Media – Says No to Hashtags

Posted in Investment Adviser Regulation

Earlier this month the UK’s financial services regulator, the Financial Conduct Authority (FCA), issued its final guidance on financial promotions made via social media channels. As we reported last year in our alert, “UK’s Financial Services Regulator Issues Draft Guidance on Social Media – Should we Favourite* or #Fail?”, in August 2014 the FCA issued… Read More

New Regulatory Guidance on Use of Social Media by Investment Advisers

Posted in SEC Enforcement

Acknowledging the growing demand by consumers for information through social media, the Division of Investment Management set some ground rules on how investment advisers can use social media and publish advertisements featuring public commentary about them from social media sites. Click here to read Morrison & Foerster’s summary on the Socially Aware blog. 

Yelp for Advisers—SEC Determines That Some Online Client Reviews Are Not Prohibited Client Testimonials

Posted in SEC Enforcement

The SEC’s Division of Investment Management recently released a guidance update on the “testimonial rule” and the use of social media by investment advisers. Found in rule 206(4)-1(a)(1) under the Advisers Act, the testimonial rule prohibits investment advisers that are registered or required to be registered with the SEC from publishing any advertisement that refers… Read More

FINRA Issues Sweep Letter Regarding Use of Social Media

Posted in Broker-Dealer Regulation, FINRA Enforcement

FINRA, having enacted new communications rules that specifically reference electronic communications, having issued two Regulatory Notices (linked here and here) providing guidance to the securities industry on social media, and having made social media and electronic communications exam priorities in two of the last three years, is now taking the next logical step: conducting a… Read More