FINRA Issues Online Media Rules For Securities Firms

Law360, New York (January 25, 2010, 4:23 PM EST) -- Securities firms that use social networking sites like Facebook and Twitter to communicate with the public must keep records of those communications and ensure that any advice given in such a forum is suitable for everyone who receives it, according to new guidelines issued Monday by the Financial Industry Regulatory Authority.

FINRA said in a regulatory notice that it had received numerous inquiries from firms about how rules governing communications with the public applied to the use of social networking sites. The regulatory agency organized a...
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