Yes you can do it!

Blogging and social media marketing is regulated in some industries, like financial services and insurance.  Being regulated doesn’t mean that it’s prohibited though.  Knowing the rules will let you take part in these potentially highly successful activities without getting in trouble.

highly regulated industry social marketing

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In 2010 FINRA (Financial Industry Regulatory Authority) came up with a new regulatory notice meant for broker dealer businesses using social media & Blogs.

Every firm that uses Blogs and social media must be able to retain records of what they post as required by SEC rule 1783, 1784 & NASD (National Association of Securities Dealers) Rule 2210. NASD Rule 2210 talks about public appearance. Including working with interactive forums (Linkedin,Twitter,Facebook). Firms need supervisory procedures that follow regulatory notice 0759. That can either be reviewed pre or post publication on blogsites and social media.

A 3rd party post is not considered to be a firm’s communication with the public, As long as the firm hasn’t participated in the preparation of the post. In other words using common sense and your company compliance officer you can participate in social media and blogging.

Obviously regulated industry is going to take a hard look at whatever you run by them. After all who wants the fallout from broken rules and regulations? However with some careful writing and teamwork with your compliance department you could step into social media and blogging. I have yet to find blogs written from inside regulated industry. I do believe we will begin to see compliant posts coming from major and minor players in the game. Edward Jones Investments is angling to permit the use of social media (Linkedin/Twitter/Facebook) among other companies.

Now is a great time to bring your ideas to the table. Contact us and we can sit down with you and your compliance officer/department and begin putting you on the fast track to success.

Rob Wessels/New Business Development
Northwest Data Networks-971-226-9330
www.FINRA.org

http://www.sec-nasd-regulations.com/

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