'Like' It Or Not: Broker-Dealers And Social Media Access

Law360, New York (June 28, 2012, 1:32 PM EDT) -- Broker-dealers and their associated persons are subject to a regulatory framework surrounding the use of social media that requires firms to supervise certain social media and electronic communications of the firm and its associated persons.

Federal and state legislators have been focused on regulating employers’ access to their employees’ or applicants’ social media pages and passwords. Legislators have adopted and proposed legislation limiting employers’ access to employees’ and applicants’ social media accounts. These actions may create conflicts between broker-dealers’ regulatory obligations and such legislation.

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