Twitter and other social media sites offer businesses new ways to interact with current and potential customers. A recent poll from Pew Internet and American Life Project reported that 46 percent of American adults who use the Internet logged onto a social networking site in 2009. Whether it’s getting introduced, making the sale, or hearing valuable feedback, there’s no question about the potential value of social media for businesses.
FINRA (Financial Industry Regulatory Authority) is the “power that be” in the financial industry, regulating what brokers can and cannot do. FINRA recently made the news when they released their regulations and recommendations about how brokerages should navigate social media (here’s FINRA’s PDF on Social Media).
“Americans are increasingly using social media Web sites, such as blogs and social networking sites, for business and personal communications. Firms have asked FINRA staff how the FINRA rules governing communications with the public apply to social media sites that are sponsored by a firm or its registered representatives”
“Social networking sites and blogs raise new regulatory challenges, particularly in the areas of supervision, advertising and books and records requirements,” said FINRA Chairman and CEO Rick Ketchum. “Our goal in issuing this Notice is to ensure that firms and brokers use social networking sites in an appropriate manner.”
Iterasi Helps You Meet FINRA Compliance Requirements!
FINRA requires firms to keep records of all communications: “Every firm that intends to communicate, or permit its associated persons to communicate, through social media sites must first ensure that it can retain records of those communications.”
IterasiArchives, our flagship web archiving product, can archive your individual Twitter stream, so you have third-party, valid archives of your tweets. IterasiArchives can also create archives of any tweet mentioning you, your company, or any other keywords you need to track for compliance purposes.
We also have the browser tool, which we call the Iterasi Page Notary tool. With the Page Notary tool you can create archives of any website you can see, even websites requiring login and password information. This is a powerful way to create valid archives of your interaction with friends on Facebook or other private social media sites.
How To Get Started With IterasiArchives
To use IterasiArchives and start archiving your social media communications contact us. You can call or email us from that link to get started.
Want to find out more? Check out the IterasiArchives website to learn more about what IterasiArchives can do.
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