Brokers Get Strict Social Networking Rules

eldavojohn writes "If you're a broker or work for a brokerage firm then you better think twice before posting content to Facebook and Twitter. It seems the static parts of the pages like your profile must be approved and fall under the watch of FINRA. But a post to Facebook or a tweet might constitute a 'public appearance' representing your firm. Which means that 'firms must supervise these interactive electronic communications under NASD Rule 3010 in a manner reasonably designed to ensure that they do not violate the content requirements of FINRA's communications rules.' It's days like these I'm glad I don't work on Wall Street or have jury duty."

Read the article

[Antony-Kyre]

If you're a registered broker or work for firm that sells any sort of investment products, you'll want to think twice before blurting out anything that could be construed as investment advice on Facebook, Twitter, or any other social networking site.

Moronic commentary

[Malc]

" It's days like these I'm glad I don't work on Wall Street or have jury duty."

And if you worked for the CIA, would you be complaining that you can't tweet about classified information? If you've chosen to work on Wall Street, the chances are that you accepted that there are some things you can't talk about long before Facebook and Twitter came along (or if you've just started, you know it's part of the territory). So what?

Re:Moronic commentary

[MrMista_B]

Then whoever's complaining doesn't know what they're talking about. From The Fine Article:

'If you're a registered broker or work for firm that sells any sort of investment products, you'll want to think twice before blurting out anything that could be construed as investment advice on Facebook, Twitter, or any other social networking site.'

It's a non-story.

Re:Read the article

[Anonymous Coward]

No, that's why I post as an AC.

Re:What's next?

[ArsenneLupin]

Yes. There will be TV cameras in all offices.

... except in the oval office.

Re:Moronic commentary

[AarghVark]

Yeah, but unlike the folks at the CIA they get hefty bonuses. Makes me cry to think that they have to deal with some of the same types of rules that police, teachers, and doctors already have to deal with regarding their actions outside of the office. If they don't like the responsibilities of the job they are always free to quit. These jobs typically pay a lot more than other jobs which fall under similar levels of scrutiny.

"It's just a dumb regulation."

[John Hasler]

You wanted more "oversight". You're getting it.