SOURCE: Nexgate

Nexgate

July 10, 2013 09:30 ET

Nexgate Releases Social Media Controls for SEC Compliance

New Controls Detect, Audit and Remediate Confidential Company Information Disclosures on Social Media

SAN FRANCISCO, CA--(Marketwired - Jul 10, 2013) - Nexgate (www.nexgate.com), an innovator in social media brand protection and compliance today announced the release of new policy controls to automatically detect, notify and remove sensitive and confidential company information on social media accounts.

With the SECs recently announced guidelines on disclosing financial updates via social media, companies can share sensitive company performance data via authorized social media accounts. Although this signifies a 'green light' to increasingly use social networks as official company communication channels and infrastructure, it also comes with official usage guidelines and rules that companies must adhere to that mirror rules for their other official communication channels. These guidelines require new controls to ensure companies are compliant and avoid fines and sanctions.

Social media is a tremendous conduit for corporate communications; used incorrectly, however, and employees can inadvertently disclose confidential and material company information. Earnings, performance information, and details of 'right sizing', lay-offs, or general restructuring are examples of confidential information that can hurt company perception, lead to competitive disadvantage, affect performance, and may even run them afoul of the SECs new guidelines. Until now, both social media policy and controls have been lacking, and HMV's recent incident is an example of why companies need to apply process and technology to enforce social media compliance.

Nexgate's new policies are designed to cover the disclosure of confidential information via social media and address the SECs new guidelines. As part of its new category of pre-built policies for 'Company Confidential' content, Nexgate is releasing a policy for "Earnings & Financial Updates" as well as a policy for "Layoffs & Restructuring". Companies can select these policies with one-click, as well as choose an enforcement action, including, log, notify or delete. Nexgate's patent-pending capabilities automatically detect and enforce the desired policy on related content and conversations on any brand-owned or brand-affiliated social account.

"We've made big strides in our detection and policies for regulated data and compliance standards on company-owned social media accounts," said Devin Redmond, Nexgate Co-founder & CEO. "We're eager to address customer and market requests to add oversight and controls for confidential company information shared within social networks. Traditional, legacy security approaches attempt to intercept and enforce policies at an arbitrary network or device enforcement point, and simply don't work for many key scenarios. Our team of social media and compliance experts built these sophisticated governance policies using lexicons, regular expressions, and NLP specifically for easy application within social networks and on social accounts themselves."

"What was once just a source of costly embarrassment and public hand slaps is quickly becoming a more serious area for governance and regulatory compliance," said Phil Hochmuth, IDC Security Industry Analyst. "The capabilities required to identify and prevent these types of governance issues inside of social networks is something the market and companies have needed and will only increasingly require."

For more information and descriptions of the policy and control capabilities, visit the Nexgate site http://nexgate.com/solutions/social-media-risk-and-compliance/.

About Nexgate
Nexgate provides cloud-based brand protection and compliance for enterprise social media accounts. Its patent-pending technology seamlessly integrates with the leading social media platforms and applications to find and audit brand affiliated accounts, control connected applications, detect and remediate compliance risks, archive communications, and detect fraud and account hacking.

Nexgate is based in San Francisco, California, and is used by some of the world's largest financial services, pharmaceutical, Internet security, manufacturing, media, and retail organizations to discover, audit and protect their social infrastructure.