FCA Social Media Guidance: Best Practices for Recordkeeping

The Financial Conduct Authority (FCA) released final guidance in March 2015 that outlines its supervisory approach to financial promotions and customer communications in social media.

Social media includes the use of websites and applications that allow a firm and its advisers to create and share content, or participate in social networking.

The recent FCA guidance on social media records is significant, it dispels the misconception that firms can rely on social media platforms to keep records.  Firms are expected now to have a senior person approve ‘significant’ social communications and to have an ‘adequate’ system in place to capture and retain social media posts.

Read the ‘FCA Social Media Guidance: Best Practices for Record-keeping’ white paper to understand:

  • 1.24 – 1.26 approval and record-keeping rules
  • Why an archiving system is critical for meeting FCA record-keeping obligations
  • Compliance best practices: policies, training, technology

    Firms looking to implement FCA guidance on social media records can get started on a free trial.  Click here to contact Smarsh.

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