Digital Communication

Digital Communications: 2019 FINRA Report

In the recent “2019 Report on FINRA Examination Findings and Observations,” one of the topics highlighted was the use of digital communications. This can include a wide range of social media, email, text messaging, and various other digital tools. The regulatory requirements pertaining to the usage of digital communications are outlined in Exchange Act Rule 17a-3 and 17a-4 and FINRA Rules 3110(b)(4) and 4510. These rules require procedures pertaining to the usage of these types of communications, as well as the appropriate maintenance of the communications in the form of books and records.

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FINRA Provides Reminders Concerning the Use of Social Networking Websites and Business Communications

In today’s ever-changing technological environment, overseeing new forms of communication has become an increasingly challenging task. To assist broker-dealers with meeting regulatory demands, FINRA has released a series of Regulatory Notices focused on communications with the public through social media sites and the use of personal devices for business communications.  Most recently, FINRA published Regulatory Notice 17-18  which outlines guidance regarding use of social networking websites and business communications.  Read More…

Upcoming Changes to Form ADV Part 1

The Securities and Exchange Commission (SEC) recently announced revisions to the ADV Part 1.  These changes will affect most Registered Investment Advisers (RIAs) when they complete their annual amendment; however, RIAs may be prompted to address additional questions if a firm submits an amendment on or after October 1st.

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