The Financial Industry Regulatory Authority has issued additional guidance on the application of FINRA rules governing social media sites and business communications. In January 2010, FINRA issued Regulatory Notice 10-06 (Notice), providing guidance on the application of FINRA rules regarding communications with the public and reminding member firms of the recordkeeping, suitability, supervision and content requirements for such communications. Since the publication of the Notice, member firms have raised additional questions regarding the application of the rules. FINRA states that the new guidance responds to these questions by providing further clarification about application of the rules to new technologies, and is not intended to alter the principles or the guidance provided in the prior Notice. The additional guidance addresses the following topics: (i) recordkeeping; (ii) supervision; (iii) third-party posts, third party links and websites; and (iv) accessing social media sites from personal devices.
Click here to read Regulatory Notice 11-39.