Solve Social Media Compliance Problems Before Examiners Find Them

Eliza Fromberg was quoted in an article, "Solve Social Media Compliance Problems Before Examiners Find Them," in ACA Insight. While there is no requirement from the Securities Exchange Commission for Chief Compliance Officers to use pre-approvals for content posted by company employees, Fromberg suggested that it might be appropriate to require approval for formal communications such as blog posts. However, it might not be appropriate to require pre-approval for posts to social media sites such as LinkedIn. Fromberg also said that banning social media is difficult to do. "It is happening less often as firms realize that social media is a valuable resource," she said.