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Jackson Lewis P.C.

What Companies Can Learn from FINRA’s Significant Enforcement Areas in First Half 2024

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For securities industry employers, Financial Industry Regulatory Authority (FINRA) disciplinary actions and fines can be costly. FINRA disciplinary actions in the first half of 2024 show three areas of significant regulatory...more

Pagefreezer

5 Huge Reasons Banks Need to Archive Their Websites & Social Media Accounts

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The digital revolution has transformed the banking industry. As financial services and associated communications move online, it is more important than ever for institutions to manage and control their online presence....more

Troutman Pepper

FINRA’s Crackdown on Firms’ Use of Social Media Influencers Continues

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The Financial Industry Regulation Authority’s (FINRA) Enforcement Division recently announced a resolution to a nearly two-and-a-half-year investigation in which TradeZero America, Inc. (TradeZero) agreed to pay a fine of...more

Katten Muchin Rosenman LLP

Supervising FINfluencers' Social Media Spin: Don't Believe Everything You View on Your Phone

Katten Muchin Rosenman LLP on

In the all-encompassing age of social media, a new breed of influencers has emerged — FINfluencers (financial influencers). These individuals leverage their significant number of followers on social mediaon platforms such as...more

Orrick, Herrington & Sutcliffe LLP

FINRA imposes censure and $250,000 fine on “influencer” company for misconduct and privacy notice violations

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On June 10, FINRA agreed to a Letter of Acceptance, Waiver, and Consent (AWC) from a company, addressing various regulatory infractions for improper use of social media influencers in promotional activities. From 2020 to...more

Mayer Brown Free Writings + Perspectives

SEC’s Upcoming Investor Advisory Committee Meeting: Finfluencers and AI

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The Securities and Exchange Commission announced an upcoming meeting of its Investor Advisory Committee, which will be held on June 6, 2024.  The agenda includes a number of interesting topics....more

Bracewell LLP

FINRA Facts and Trends: April 2024

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Welcome to the latest issue of Bracewell’s FINRA Facts and Trends, a monthly newsletter devoted to condensing and digesting recent FINRA developments in the areas of enforcement, regulation and dispute resolution. This month,...more

Faegre Drinker Biddle & Reath LLP

Hiring Social Media Influencers? How You Influence Matters

Faegre Drinker Biddle & Reath LLP on

FINRA, as part of its targeted exam of member firms’ social media practices for gaining new customers, recently announced an $850,000 fine against M1 Finance LLC (“M1 Finance”) stemming from promotional social media posts...more

Troutman Pepper

FINRA’s First Disciplinary Action Targeting Firm’s Use of Social Media Influencers

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The Financial Industry Regulatory Authority’s (FINRA) Enforcement Division recently announced its first settlement involving a firm’s supervision of social media influencers. The respondent, M1 Finance LLC (M1), is a...more

Pagefreezer

Website & Social Media Archiving to Comply with FINRA Books & Records Rules

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Investment firms and other financial institutions are subject to the strict recordkeeping and communication regulations laid out by both the Financial Industry Regulatory Authority (FINRA) and the Securities and Exchange...more

Mayer Brown Free Writings + Perspectives

Broker-Dealer Settles FINRA Charges for Failures Relating to Use of Social Media Influencer Program

Mayer Brown Free Writings + Perspectives on

On March 18, 2024, FINRA announced that it has fined a broker-dealer $850,000 in connection with the firm’s program to pay individuals with followings on social media sites (i.e., “influencers”) to promote the firm in social...more

Carlton Fields

Regulators Hit Jackpot: Off-Channel Communications

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Several years before announcing the first “off-channel” communications enforcement action, the SEC and FINRA cautioned broker-dealers and investment advisers about problematic record-keeping practices involving the use of...more

Carlton Fields

Social Media Influencers Take Center Stage

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Securities products and social media don’t always mix. Just ask any of the celebrities who in recent years have faced SEC charges for unlawfully touting crypto asset securities. In March, the SEC settled charges against six...more

Bracewell LLP

FINRA Facts and Trends: May 2023

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Welcome to the latest issue of Bracewell’s FINRA Facts and Trends, a monthly newsletter devoted to condensing and digesting recent FINRA developments in the areas of enforcement, regulation and dispute resolution. This...more

Katten Muchin Rosenman LLP

FINRA Updates its Sweep on Social Media Influencers, Customer Acquisition and Related Information Protection

Katten Muchin Rosenman LLP on

On February 28, 2023, FINRA provided an update for its sweep on Social Media Influencers, Customer Acquisition and Related Information Protection....more

UB Greensfelder LLP

Highlights From SIFMA’s Compliance And Legal Seminar 2022

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I attended the four-day SIFMA Compliance and Legal seminar last week, and there were a bunch of interesting soundbites from regulators that folks might find interesting. The challenge at these conferences is always...more

Carlton Fields

FINRA Atwitter Over Social Media Influencers

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Social media influencers are individuals, sometimes celebrities, who help businesses gain customers through social media communications. Influencers may communicate, for example, on TikTok, Facebook, Instagram, YouTube,...more

Goodwin

SEC Publishes Sample Climate Change Comment Letter

Goodwin on

In This Issue. The U.S. Securities and Exchange Commission (SEC) published a sample comment letter on climate change disclosures; the Financial Industry Regulatory Authority (FINRA) is conducting a review of brokerage firm...more

Bressler, Amery & Ross, P.C.

FINRA’s September 2021 Exam Letter

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Last week FINRA announced a new inquiry into firms’ use of social media and “influencers” to attract clients. After the well-publicized market volatility in GameStop, which was bolstered by an online influencer known as...more

Burr & Forman

FINRA 2021 Exam Results and Priorities

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On February 1, 2021, the Financial Industry Regulatory Authority (“FINRA”) released its “Report on FINRA’s Risk Monitoring and Examination Activities.”  The Report combines two of FINRA’s long-standing reports:  (a) the...more

Hanzo

The Pros and Cons of Using APIs for Web Archiving

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If you’re a regular reader of Hanzo, we’ve probably already convinced you that you need to be archiving any social media profiles that your organization maintains, along with your website. Chances are you’ve heard us talk...more

Hanzo

WARC and WORM Digital Storage: Web Archiving Essentials

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WARCs? WORMs? Is this a lost installment of the Lord of the Rings? Unfortunately, no. Rather, WARC and WORM are abbreviations that you should be familiar with if you’re maintaining digital archives for regulatory compliance,...more

Hanzo

How to Archive Instagram, LinkedIn, Facebook, Twitter, and Social Media for Regulatory Compliance

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When you need information, where do you go? For the majority of people today, the answer involves a smartphone and social media. From Facebook and LinkedIn to Instagram, Twitter, and even YouTube, social media is...more

Hanzo

FINRA Regulatory Requirements for Archiving, Recordkeeping, and Supervision in 2019

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The Financial Industry Regulatory Authority's (FINRA) constantly updated record of disciplinary actions contains a mixed bag of run-of-the-mill infractions, unethical behavior, and large-scale corporate misconduct and...more

Hanzo

To Maintain Regulatory Compliance, You Need to Capture Context

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Context is essential to understand any piece of data or information. “Those are some gorgeous melons!” could be someone's positive feedback about produce at a farmer's market, or sexual harassment directed toward a farmer....more

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