Regulatory Compliance Association Reviews

Investment Advisers: Succeeding with Social Media™

Practice Edge 02

Date: February 4, 2016
General Session: 12 Noon to 1:30 PM EST
Location: Webcast (Free)

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Use of social media has become common practice among advisers and their employees. Moreover, millions of potential investors and clients use social media platforms to obtain information about companies and trends, including investments and investment advisers. By using social networking services, investment advisers can manage their brand, publicly demonstrate knowledge of market sectors, and recruit top new talent. To be successful, however, an adviser must navigate the various applicable regulatory regimes.

In this session we discuss:

  • How advertising rules under the Investment Advisers Act of 1940 limit uses of particular social networking forums, such as LinkedIn and Twitter;
  • Guidance issued by the SEC staff and insights from recent SEC enforcement cases;
  • Regulatory considerations beyond the Advisers Act with respect to social networking communications, including Regulation D and CFTC exemptions; and
  • The potential privacy issues related to social media, including the risks of discoverability in litigation, increased vulnerability to malware and other intrusions, and the potential inadvertent disclosure of sensitive information.

Students will master the following at the conclusion of this session:

  • Identify regulatory considerations for investment advisers using social media
  • Evaluate business risks associated with social media
  • Apply Rule 206(4)-1 of the Investment Advisers Act, the Advertising Rule, to electronic communications made via social media
  • Differentiate between SEC and FINRA rules related to electronic communications and social media
  • Develop framework for social media policies and procedures and compliance

Session Chairman:

Walter Zebrowski, JD, CPA, Principal, Hedgemony Partners
Chairman, Regulatory Compliance Association

Senior Fellow from Practice:

Heather Traeger, JD, CCO & Compliance Counsel, Teacher Retirement System of Texas

Guest Lecturers:

Catherine Courtney Gordon, JD, Director & Associate General Counsel, ETrade Financial
Tanya Kerrigan, JD, General Counsel & CCO, Boston Advisors
Jennifer Klass, JD, Partner, Morgan Lewis

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