SEC: Advisor use of social media testimonials sometimes OK
April 7, 2014 by Melanie Waddell
The Securities and Exchange Commission released on Monday long-awaited guidance clarifying advisors’ use of testimonials on social media.
The guidance update, issued by the agency’s Division of Investment Management in a Q&A format, addresses questions raised by advisors concerning the nature, scope and application of the rule that prohibits investment advisors from using testimonials in their advertisements.
The guidance, the IM division says, also addresses questions concerning investment advisors’ use of social media, specifically advisors’ use of social media and their publication of advertisements that feature public commentary about them that appears on independent, third-party social media sites.
Originally Posted at LifeHealthPro on April 2, 2014 by Melanie Waddell.
Categories: Industry Articles
