reged social media basics webinar series - the social media policy
DESCRIPTION
The fundamental elements of building out your social media policy in financial services.TRANSCRIPT
Social Media PolicySocial Media Basics Webinar Series
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Getting Started on Social is driven by strategy and policy
Who, What, When, Where and How?
Your Policy is a Business Plan AND Governance Document
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Social Media Policy Best Practices
Define and Document Your Policy
Who is authorized?
Which platforms are acceptable?
Include your own governance and ethics
Approved technology
Signed affirmations
Mitigation
Ongoing management
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Scott PetersonCo-Founder703.722.6688 (office)571.344.4446 (cell)www.relaystationmedia.com/ | @sthepetersonwww.linkedin.com/in/scottthepeterson www.signalboost.com Blog
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Dummy textSocial Media Is About Sharing
Learning, Engagement, Conversation, CommunityYour policy shouldn‘t be too restrictive about what is shared!
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Elements of Social Media Policy
At work:• Mandatory training to use social media• Mandatory use of archiving and review system• Permitted & prohibited platforms• Right to remove content on company systems• Right to monitor employees• Annual policy certification by all employees• And more
At home:• Right to monitor any comments about company on Internet
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Web site and blog
Social Platforms
Digital Marketin
g Digital Events
(webinars)
Hub and Spoke Model
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PlatformsLeverage flexibility of multiple mediums & formats
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The Gateway to Social Media For All
Tablets Smart Phones
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Governance
Outline regulations to meet
‒ Retention and Surveillance
‒ Review and Monitoring
‒ Broad Search – rogue accounts, complaints…
Written Supervisory Procedures
Lexicons and Searches
Pre-Approving Content
Identify FINRA & SEC Rules that Apply
Define Monitoring Methods
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Choosing Technology
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• How will you collect data?
Data Aggregation & Retention
• How will you supervise content?
Reporting Automation
• How will you search for what you “don’t know”?
Monitoring
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Rules & Regulations
FINRA Guidance (10-06, 11-39, 12-29)
NASD 2210(b) & 3010
SEC 17a4, 206(4)-7
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Social Media Policy Is a Regulatory Requirement
SEC Rule 206(4)-7 Firms must adopt and periodically review effectiveness of policies and procedures regarding social media.
FINRA Reg Notice 10-06Firms must have a general policy prohibiting any associated person from engaging in business communications in a social media site that is not subject to the firm’s supervision… only those associated persons who have received appropriate training … may engage in such communications.
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Dummy textSection 7 of National Labor Relations Act
Employees have right to participate in “concerted activities for the purpose of collective bargaining or other mutual aid or protection.”
Prohibiting statements that “damage the company” is too broad a restriction.
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Dummy textSection 7 of National Labor Relations Act
Be specific!Include reference that your policy does not include protected activitiesList 19 other categories of behavior can be prohibited
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Social Media Basics Webinar Series