FINRA Regulatory Notice 11–39

FINRA Regulatory Notice 11–39 (guidance on social networking websites and business communications) is a response to January 2010’s FINRA Regulatory Notice 10–06, addressing questions regarding the application of the rules since 10–06’s publication. The notice is presented in Q&A format and covers four sections: recordkeeping, supervision, third-party posts, third-party links and websites, and accessing social media sites from personal devices.

Highlights include:

  • Content is determinative — whether a particular communication is related to the business of the firm (and subsequently if it should be archived or not) depends upon the facts and circumstances. It does not depend on the type of device or technology used to transmit the communication.
  • Firms are required to retain, retrieve and supervise business communications regardless of whether they are conducted from a work-issued device or personal device.
  • Business-related content on personal sites should be addressed via policy.
  • Interactive content may also become static content.

Smarsh, Inc. assumes no liability for the accuracy or completeness of this information. Please consult with an attorney for specific information on specific rules and regulations and how they apply to your business.

Helpful Links:
Regulatory Notice 11–39 — Guidance on Social Networking Websites and Business Communications from FINRA

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