What You Need to Know
- The sweep focuses on practices related to the acquisition of customers through social media channels.
- FINRA wants to know how firms supervise activities and communications related to paid social media influencers.
- FINRA also wants firms to weigh in on their written and supervisory compliance with the SEC's Reg S-P.
The Financial Industry Regulatory Authority is conducting an exam sweep on broker-dealer practices related to the acquisition of customers through social media channels.
The sweep also probes firms on how they “manage their obligations related to information collected from those customers and other individuals that may provide data to firms.”
FINRA CEO Robert Cook said on July 22 that a sweep related to “finfluencers” was coming.
The sweep would focus on “how firms supervise activities and communications related to paid social media influencers,” he said at the time.
Read Full Story: https://www.thinkadvisor.com/2021/09/17/finra-sweeps-bds-on-use-of-social-media-influencers-referral-programs/
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.