According to AdvisorTweets, Financial Industry Regulatory Authority Inc. (FINRA) says the delay is needed to reconcile comments from their membership.
As reported in DBJ Associates, the industry is taking a closer look at social media as sales literature because advisors and investors want to have a hand choosing the communications forms they prefer. "The cost of not communicating to advisors and clients through their preferred vehicles (social media) does not make a lot of long-term business sense." Mr. Johnston said recently.
FINRA has no intention of addressing the social media question directly. In fact, the term "social media" appears nowhere in both the text of the new rule, nor Regulatory Notice 09-55, the comment notice.
The notice invites interested readers to contact FINRA and weigh in on whether readers think social media used for financial marketing purposes is the greatest thing since the 40 Act was passed -- or is at best an annoying distraction. To read the rest of article, please click here.
The return of the individual investor: can social media ease the way?
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