Businesses around the world understand the importance of social media and the role it can play in sales and marketing. After years of abstaining from sites like Facebook and Twitter, the financial industry, specifically financial advisers, are cautiously dipping their toes into the social media pool. In the stocks and securities industry, investors have been asking for their financial advisers to get on the bandwagon, and financial giant Morgan Stanley may finally be making some moves toward joining the social media rush, if a little hesitantly. The caution may be warranted, securities attorneys in Utah like Douglas J. Shumway and lawyers across the U.S. say. Previously only allowing financial advisers to send out a pre-approved message via Twitter, brokers with at least 15 followers will now be able to craft their own 140-character (or less) tweets to send out to their investors – after taking an online training course. And after the tweet gets approved by the firm. The daring new changes to policy come after the Securities and Exchange Commission recently published a series of Compliance and Disclosure Interpretations (CDIs) regarding the use of social media, including Twitter itself. Securities attorneys in Utah say that the potential for misleading information in 140 characters is high, which is why Morgan Stanley is subjecting their tweets to an approval process. #securitiesattorneysinutah #utahsecuritiesattorneys
Posted on: Thu, 07 Aug 2014 01:26:18 +0000
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