FINRA Updates its Sweep on Social Media Influencers, Customer Acquisition and Related Information Protection -
On February 28, the Financial Industry Regulatory Authority (FINRA) provided an update for its sweep on Social Media Influencers, Customer Acquisition and Related Information Protection, which was first conducted in September 2021, the purpose of which was to review firms’ practices related to their acquisition of customers through social media channels and sharing of customers’ usage information with affiliates and non-affiliated third parties.
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