In the U.S. financial sector, complying with regulations like FINRA, SEC Rule 17a-4, and Dodd-Frank is essential. Brolly helps advisors stay compliant by archiving all social media interactions, protecting against potential regulatory risks in a fast-changing market.
Transparency matters for compliant organisations like yours. What happens when you need to respond quickly to FINRA enquiries or provide evidence to inquiries and legal teams?
With Brolly archiving all your records, you’re able to respond and deliver with the minimum of fuss, saving countless hours and without headaches.
All social media communications by registered firms must be archived, supervised and compliant with rules for advertising, suitability and correspondence. Firms are responsible for monitoring social media use when it involves financial services
As per FINRA Notices 10-06 and 11-39 that mandate archiving all business-related social media communications per SEC Rule 17a-4(b), this requires broker-dealers:
– retain all communications, including social media, for a minimum of three to six years
– This must be in a non-erasable and non-rewritable format
– These communications must be easily accessible within the first 2-years
While focusing primarily on the protection of consumer information it imposes obligations on financial services firms to safeguard customer data including social media
Social media can be an important and often overlooked component to a financial services firm’s communications with your clients.
The SEC has a continual focus on ensuring broker-dealers and investment advisers maintain and preserve electronic communications and are ready to hand down significant fines to organizations who are not compliant.
Don’t let your social media recordkeeping be the component that lets your compliance down. Brolly can quickly and easily ensure all your social media conversations are captured and preserved in line with FINRA and SEC regulations.
81% of financial advisors reported gaining new clients or business opportunities through social media interactions
A significant portion of U.S. customers are now using social media as a resource for information on financial services.
Our partners at Hootsuite have valuable tips, stats and examples for using social media in financial services
Social media has become crucial for financial advisors to connect with and engage their target audience. However, due to the sensitive nature of financial information and regulatory compliance requirements, firms must take extra precautions to protect themselves and their clients. That’s where Brolly social media archiving comes in.
With your social media all consolidated in one up-to-date archive, see conversations unfold in real time. Tag records that belong together. Set alerts to receive an email when key words or phrases appear in posts and comments. It’s all there, in real time, for you.
Social media giants like Facebook and Twitter constantly change their policies and introduce new features. Once your social media accounts are connected to Brolly, we take care of those changes for you.
Archiving is only half the story
There’s no point in creating an archive unless you can access it and retrieve records easily when they are required. The availability of your records completes the picture.
Make sure you can easily access your archived records, including customer complaints and responses, promotional messages and adviser conversations.
Brolly gives you 24/7 access to verifiable records complete with metadata, links and media.
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