sample social media guidelines for financial services

At the CIRI Conference panel "Evolution of Disclosure" yesterday, one of the subjects we discussed was the developing regulatory framework for social media in the securities industry. Darrel Heaps, President and CEO, Q4 Web Systems Inc. provided an insightful qualification on the status of blogging as an SEC-recognized disclosure channel and has written an illustrative reflection on the guidelines for web disclosure in his blog.

In addition to the emerging social media securities guidance, it was advised that companies take a proactive approach in developing and disseminating their own corporate guidelines for the use of social media. Corporate social media guidelines are recommended as a means of protecting confidential information, branding, logos, and trademarks, personal privacy, and inadvertent misrepresentation.

Below is a excerpt of a social media policy for a financial services company.

Media, Social Media and ABC Financial

ABC Financial has disclosure policies for dealing with the media that are designed to protect our reputation which benefits advisors, employees and our customers. It's also important to protect our online reputation in various such as chat rooms, blogs and social networking sites like Facebook and MySpace. As these information sharing tools grow in popularity, ABC Financial is actively looking at ways to use social media to support our business objectives. While you familiarize yourself with these exciting new communications vehicles, please understand your role in protecting ABC Financial's business and reputation. You'll also want to protect your personal privacy and reputation.

In your communications, including your Internet home page or blog, any Internet chat room or other similar public forum, do not discuss ABC Financial business, operations or policies without proper approval. Regardless of the media, when you use the ABC Financial name to comment on the financial services business, it may appear you are acting as a spokesperson for the Company, which requires approval of Public and Corporate Affairs. As required under the confidentiality provisions of your Agreement, respect confidential and proprietary information about the Company, performance and products that is meant to be shared only internally.

If you need additional support on what constitutes head office approval, please discuss with your manager.

Social media can generate information sharing, collaboration and innovation. Over time, you'll start to see ABC Financial use these tools more, internally and externally, to support the growth of our business.

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