Learn about the evolution of Social Media from Joyce Sullivan, social media leader and innovator. You will get a high-level view of industry regulations and where to find clear and concise direction in this area, and will learn about the big three: LinkedIn, Twitter and Facebook. You can apply this to your work, your career, and your personal life.
1. Exclusive Presentation for:
677 Washington Boulevard
Stamford, CT 06901 USA
Wednesday, May 23, 2012
6:30-7:30 pm EDT
Financial Services and Social Media
What it Means to You in Your Career Success
Created and Presented by:
Joyce Sullivan
CEO | Founder
SocMediaFin.com
2. Exclusive Presentation for:
677 Washington Boulevard
Stamford, CT 06901 USA
Wednesday, May 23, 2012
6:30-7:30 pm EDT
Financial Services and Social Media
What it Means to You in Your Career
Success
AGENDA:
- overview and introductions
- financial services and social media use
- industry trends
- compliance and regulation update
Your Personal Brand and Online Identify
- LinkedIn
- Facebook
- Twitter
Created and Presented by:
What’s next
- discussion and questions Joyce Sullivan
CEO | Founder
SocMediaFin.com
5. 5
Five global
women – NZ,
UK, US - who
work in financial
services and
use social
media for work
SXSW 2012 Financia
http://schedule.sxsw.com/2012/events/event_IAP9392
6. Social Media Tools: How Do I 6
Know Which App I Should Use?
Who are you?
What do you have to say?
Who are you trying to reach?
How do THEY want to be reached?
Once you connect, then what?
7. US Industry Trends: Shrinking and Growing Industries 2007 - 2
Council of Economic Advisors, February 2012 report
7
8. Social Media Strategy for Financial Services
for US Firms
Can you use social media in financial services?
What are the rules?
The Fun stuff: FINRA, SEC and other regulatory guidance
How do you use social media compliantly at your firm
and in your own personal career development
9. Who are you?
Social Media and Financial Services
New graduate joining a financial services firm
Moving from another industry that used social media extensively
Public Relations firm with financial services clients
Advertising firm working with financial services
External Legal or Compliance firm working with financial services firms
Internal Legal or Compliance firm supporting line of business
Sales or Marketing department who want to use social media to increase
sales
Senior Leaders wondering if you should get into social media
Your new hires have ideas to grow the business using social media
10. FINRA Regulatory Notice 10-06
In January, 2010, The Financial Industry Regulatory Authority (FINRA)
provided its first high level industry guidance for social media activities for
investment broker dealer firms.
10-06 provided no specific rule changes, but offered clarification in a Q & A
format.
Summary Highlights
Record Keeping Responsibilities
Suitability Responsibilities
Types of Interactive Electronic Forums
Supervision of Social Media Sites
Third Party Posts
13. FINRA Regulatory Notice 11-39
In August 2011, The Financial Industry Regulatory Authority (FINRA) provided
clarification of 10-06 guidance for social media activities for
investment broker dealer firms with focus on:
- Social media websites
- Use of Personal Devices for Business Communications
11-39 Summary Highlights
Communication content is determinative; not the communication channel
A Firm is subject to the “adoption” and “entanglement” theories regarding
third party posts (Retweets, LIKES, of others’ content)
Business communications through personal devices must be supervised and
recorded
16. Securities & Exchange Commission (SEC)
National Examination Risk Alert
In January 2012, The SEC issued their observations related to the use of
social media by registered investment advisers
Key Takeaways: Investment advisers that use or permit the use of social
media by their representatives, solicitors and/or third parties should
consider periodically evaluating the effectiveness of their compliance
program as it relates to social media. Factors that might be considered
include usage guidelines, content standards, sufficient monitoring,
approval of content, training, etc. Particular attention should be paid to
third party content (if permitted) and recordkeeping responsibilities.
18. Types of Financial Advisors
Registered Representatives Investment Advisors
(Broker-Dealer)* (Registered Investment Advisor)*
Regulated by FINRA and the SEC Regulated by SEC or state
regulators
Paid via commission Paid fee by client
Suitability – recommendation must Fiduciary responsibility – must
be consistent with best interest of place clients interest above own
client
Ethics Legality
Transactions Advice
*Dually registered firms must adhere to both SEC and FINRA rules
19. Best Practices
If your firm has approved business use of social media
DO
4.Discuss macro economic concepts
5.Discuss various sectors or industries
6.Discuss retirement concepts
7.Educate the public on financial markets and products
8.Post company non-product or services related announcements
9.Post messages that have a broad appeal (i.e. charity events or good will activities)
10.Post generic responses to third-party postings
DON’T
13.Mention individual stocks or investment names
14.Provide investment advice
15.Promote your products and services
16.Make provocative or promissory statements regarding direction of the markets or price of
commodities
17.No retweets on Twitter
18.No ‘Likes’ on Facebook
19.No unauthorized employee postings @joycemsullivan
20. Financial Services and Social Media
What it Means to You in Your Career Success
Your Personal Brand and Online Identity:
- LinkedIn
- Facebook
- Twitter
21. LinkedIn
Founded in 2002
As of May 2012:
- 162 million members
- 200 countries
- World’s largest professional network on the internet
46. Thank you!
Connect with me!
LinkedIn: http://linkedin.com/in/joycemsullivan
Website: http://socmediafin.com
Twitter: http://twitter.com/joycemsullivan
Facebook: SocMediaFin, Inc on Facebook
CNBC TV:
Joyce Sullivan on WSJR with Maria Bartiromo
46
47. Exclusive Presentation for:
677 Washington Boulevard
Stamford, CT 06901 USA
Wednesday, May 23, 2012
6:30-7:30 pm EDT
Financial Services and Social Media
What it Means to You in Your Career Success
Created and Presented by:
Joyce Sullivan
CEO | Founder
SocMediaFin.com