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Social Media › Securities and Exchange Commission (SEC) › Broker-Dealer

Follow this channel for insights at the intersection of social media and the law, covering a wide array of issues from employer liability to privacy, from advertising rules to IP matters, and... more +
Follow this channel for insights at the intersection of social media and the law, covering a wide array of issues from employer liability to privacy, from advertising rules to IP matters, and more. Like this! less -
Wilson Sonsini Goodrich & Rosati

Five Issues for Wealthtech Companies to Consider Under the U.S. Securities Laws

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Companies in the growing “wealthtech” space often face novel regulatory and legal issues under the federal securities laws. Wealthtech companies blend traditional asset management and brokerage services with new technologies:...more

Katten Muchin Rosenman LLP

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

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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

Faegre Drinker Biddle & Reath LLP

Hiring Social Media Influencers? How You Influence Matters

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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

Mayer Brown Free Writings + Perspectives

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

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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

Dechert LLP

Recent New York Legislation Highlights Tension Between Employee Privacy and Regulatory Compliance for Broker-Dealers and Advisers

Dechert LLP on

As of today, March 12, 2024, a New York state statute, in certain circumstances, restricts employers “from requesting or requiring that an employee or applicant disclose any . . . means for accessing a personal account...more

Carlton Fields

Regulators Hit Jackpot: Off-Channel Communications

Carlton Fields on

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

Sheppard Mullin Richter & Hampton LLP

SEC Off-Channel Communications Sweep

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Over the last several years, the Securities and Exchange Commission (the “SEC”) and the Commodities Futures Trading Commission (“CFTC”) have been laser-focused on the use of so called “off-channel communications” in the...more

UB Greensfelder LLP

Highlights From SIFMA’s Compliance And Legal Seminar 2022

UB Greensfelder LLP on

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

Burr & Forman

Gamification of Securities Trading: Big Risk or Just Evolution?

Burr & Forman on

In remarks this week at SEC Speaks, SEC Investor Advocate Rick Fleming mused that the “gamification” of securities trading might pose an undue risk that exploits a potential loophole in Regulation Best Interest (“Reg. BI”)....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

Mayer Brown Free Writings + Perspectives

The Social Media Guide: Social Media Compliance for Issuers, Broker-Dealers, & Investment Advisers

Mayer Brown Free Writings + Perspectives on

The use of social media raises securities law and compliance challenges for issuers, broker-dealers, and investment advisers. This Compliance Guide summarizes briefly some key principles. ...more

Kilpatrick

Securities Regulators Focus on Forgivable Recruitment Loans/Bonuses, Social Media Influencers, and Rescission Offers

Kilpatrick on

In recent weeks, we have observed significant new developments in securities regulation related to two enforcement actions by the U.S. Securities and Exchange Commission (the “Commission”) and an unexpected (and, to our...more

Hanzo

The Bottom Line on Archiving Online Communications Under SEC Rules 17a-3 and 17a-4

Hanzo on

If you’re in the financial services industry, you’ve got a lot on your plate. You’re researching investments, advising customers, marketing your business, and maintaining strict compliance with a veritable alphabet soup of...more

Mayer Brown Free Writings + Perspectives

Social Media Compliance Guide For Issuers, Broker-Dealers, And Advisers

Mayer Brown Free Writings + Perspectives on

[author: Trevor Starer] The use of social media raises many securities law and compliance challenges for issuers, broker-dealers, and investment advisers. This Compliance Guide summarizes briefly some key principles. ...more

Broker-Dealer Compliance + Regulation

The Guide to Social Media and the Securities Laws

Broker-Dealer Compliance + Regulation on

The growing use of social media has created challenges for federal securities regulators, who must enforce antifraud rules that were written at a time when the prevailing technology was the newspaper. This Guide...more

K&L Gates LLP

Social Media Update: FINRA Releases Additional Guidance on Social Networking Websites and Business Communications

K&L Gates LLP on

On April 25, 2017, the Financial Industry Regulatory Authority, Inc. (“FINRA”) released a Regulatory Notice titled Social Media and Digital Communications: Guidance on Social Networking Websites and Business Communications...more

Morrison & Foerster LLP - JOBS Act

Advisory Committee on Small and Emerging Companies Makes Three Written Recommendations to SEC

Morrison & Foerster LLP - JOBS Act on

It was a productive morning at the last meeting of its current term for the SEC Advisory Committee on Small and Emerging Companies. The Committee, which has been renewed for two more years, approved three recommendations to...more

Morrison & Foerster LLP - JOBS Act

The Guide to Social Media and the Securities Laws

Morrison & Foerster LLP - JOBS Act on

The growing use of social media has created challenges for federal securities regulators, who must enforce antifraud rules that were written at a time when the prevailing technology was the newspaper. This Guide...more

Morgan Lewis

SEC Issues Guidance on Use of Social Media

Morgan Lewis on

Staff will allow required cautionary legends to be provided via hyperlink. On April 21, the Staff of the Securities and Exchange Commission’s (SEC’s) Division of Corporation Finance issued helpful guidance regarding...more

Morrison & Foerster LLP

The Guide to Social Media and the Securities Laws

Morrison & Foerster LLP on

REGULATION FD - Beginning in 1999 and continuing into 2000, media reports about selective disclosure of material nonpublic information by issuers raised concerns that select market professionals who were privy to this...more

WilmerHale

Haunted by a Ghost: Snapchat, Wall Street, And the Evolving Focus of Financial Social Media Regulation

WilmerHale on

A new service, Snapchat, has joined the constellation of social media services with potential business implications. Snapchat is a mobile application, originally aimed at teenagers, which allows users to send photos and text...more

Dechert LLP

SEC Approves Final Rules that (1) Permit General Solicitation and General Advertising in Rule 506 and Rule 144A Offerings and (2)...

Dechert LLP on

The SEC has amended Rule 506 of Regulation D and Rule 144A under the Securities Act of 1933 (Securities Act) to (1) permit, in certain circumstances, an issuer to engage in general solicitation and general advertising in...more

Morrison & Foerster LLP

Investment Management Legal + Regulatory Update -- July 2013

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In This Issue: Regulatory Updates - SEC Proposes Money Market Reform; SEC Eases Ban on General Solicitation and General Advertising in Certain Private Placements; SEC and CFTC Adopt Joint Rules to Address...more

Morrison & Foerster LLP

Investment Management Legal + Regulatory Update -- May 2013

Morrison & Foerster LLP on

In This Issue: Regulatory Updates - SEC Allows Limited Use of Social Media for Public Disclosure; Federal Reserve Board Publishes a Final Rule Specifying when Nonbank Firms are “Predominantly Engaged in...more

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