SOURCE: Socialware


January 26, 2010 10:00 ET

New Socialware Companion Guide Gives Financial Institutions Clear Direction for FINRA Social Media Compliance

Following Regulatory Notice 10-06, Socialware Provides Clear Strategies for Compliance Requirements When Using Social Networking Sites Like Facebook, LinkedIn and Twitter

AUSTIN, TX--(Marketwire - January 26, 2010) - Socialware, a leader in helping companies securely embrace and leverage public social networks through its Social Middleware platform, today released a new companion guide to Financial Industry Regulatory Authority (FINRA) Regulatory Notice 10-06, which provides additional guidance on the use of blogs and social networking sites and a checklist for financial institutions evaluating compliance vendors. The free companion guide, available at, is the first of its kind and highlights important regulations, while offering financial institutions specific social networking considerations and recommendations on the best ways to leverage these networks in a compliant fashion.

Offering in-depth analysis, and drawing on work with some of the largest institutions in the financial industry, the new guide answers some of the biggest compliance questions on how firms should deal with FINRA & SEC guidelines on electronic communication when using social networks, including:

--  Approval and Recordkeeping - How will firms and financial
    professionals efficiently monitor sites that instantly push messages to
    hundreds of people in a way that can be shared with thousands more?
--  Books and Records - How will firms and financial professionals
    capture, retain and discover the tremendous amount of content flowing
    across these 3rd party sites?
--  Supervision - How will firms monitor different sites and the
    multitude of different ways to communicate on them?

"Social networks are changing the face of business daily and it is now possible to leverage these powerful sites while adhering to FINRA's compliance guidelines in an efficient, automated fashion," said Chris Richter, CEO and founder of Socialware. "Financial institutions can gain so much from the use of these public social sites, but they have to approach them in a way that balances embracing the opportunity with adhering to standard compliance requirements. Our new companion guide is a great resource for firms looking at technology solutions to engage and leverage social networks and the consumers that use them."

About Socialware

Based in Austin, Texas, Socialware bridges the gap between the enterprise and social networks to transform the way that companies and their employees engage, communicate and collaborate with clients, partners and one another. Leveraging the industry's first Social Middleware platform, Socialware's technology allows companies to transform public social networking sites like Facebook, Twitter and LinkedIn into enterprise-grade channels within the framework of their existing business processes. You can find out more about Socialware at, as well as on Twitter: @Socialware. You can also read their blog:

Contact Information

  • For more information contact:
    Mickey Nelson
    Email Contact