WASHINGTON BUREAU — The Financial Industry Regulatory Authority is preparing to weigh in on financial services industry use of social media.
Richard Ketchum, the chairman of FINRA, Washington, talked about social media issues here recently at a conference organized by the Insured Retirement Institute, Washington.
"Our goal is to provide further guidance on these issues in a notice to be published later this year," Kethchum said.
In 2009, FINRA organized a Social Networking Task Force made up of FINRA staff and industry representatives to discuss how firms and their registered representatives could use social media sites for legitimate business purposes in a manner that ensures investor protection.
In 2010, FINRA used input from the task force and other parties in Regulatory Notice 10-06.
