There has been a lot of buzz lately on financial firms using Twitter, Facebook, YouTube, and LinkedIn. Recent press coverage from major publications such as The Wall Street Journal and conferences from organizations such as NICSA and Mutual Fund Education Alliance offered featured topics on using social media to engage clients.
As a result of the buzz and the belief that social media can help firms connect with investors, more firms are dipping their toes in it and some are even entering unchartered territories.
Until now the regulators have provided guidance on how firms can remain compliant. But now, according to Investment News, the SEC is looking specifically at how companies are monitoring their social media effort - one of the major roadblocks.
It will be interesting to watch as the situation develops. Are firms following the regulations? Will any be disciplined? Will more companies attempt social media strategies? Click for the full Investment News story.
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