Brokers Get Strict Social Networking Rules

Posted by samzenpus on Wednesday February 3, 2010 @08:17PM from the no-farmville-at-work dept.

eldavojohn writes "If you're a broker or work for a brokerage firm then you better think twice before posting content to Facebook and Twitter. It seems the static parts of the pages like your profile must be approved and fall under the watch of FINRA. But a post to Facebook or a tweet might constitute a 'public appearance' representing your firm. Which means that 'firms must supervise these interactive electronic communications under NASD Rule 3010 in a manner reasonably designed to ensure that they do not violate the content requirements of FINRA's communications rules.' It's days like these I'm glad I don't work on Wall Street or have jury duty."

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Exactly backwards by tjstork · 2010-02-04 02:05 · Score: 1, Troll

This rule is exactly backwards. We should be encouraging brokers and trading houses to open up their secrets so we can have a more transparent marketplace. Ideally, every trading comment and every piece of investment advice ought to be more public and more open source than not.
It's just a dumb regulation.

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