Infographic Template Galleries

Created with Fabric.js 1.4.5 People spend more time each year online browsing the internet for all types of information. 55% 80% 26% 10% 100% Social media consultation clarification means new growth for compliance Compliance departments can improve the flow of FCA-compliant social media, in accordance with potential greater clarity arising from the regulator's guidance now under consultation, by signing off tweets instantly, according to experts. If compliance can sign off social media faster than the three-day turnaround the employing company can more effectively expand its sales by, for example, joining in online on conversations that could lead to enquiries and new prospects,The greater clarity that the consultation needs to bring about will make the process easier, but it also needs a cultural change by which compliance works more closely with marketing and customer services. The most important issues under consultation that needed clarification were when the firm dealt with international audiences, and when someone chose to share and remodify tweets sent out by the firm. As under consultation, the FCA's social media guidance in paragraph 2.23 reminds firms of their obligations to have an adequate system in place to sign off digital media communications. This sign-off should be by a person of appropriate competence and seniority within the organisation. "The firm needs to prove that it has an adequate system, and tooling enabling it to manage social media so that, should an individual within the firm want to make a promotion, it is aligned to the right compliance people who can give permission.Many building societies and asset managers are cautious about social media. They say that it is difficult to meet the compliance requirements, but that can be an excuse for not wanting to use social media because they don't understand its potential and don't want to pay the price for using it, which is all about compliance."If a firm wants to ensure that adequate records and software can capture all the details, it needs a policy that parties can only post using a piece of software, such as Hootsuite for example. This way, the company can manage social media, track the social permissions, and capture communications across different devices."Compliance officers looking to build a social media presence, with the compliance that goes with it should ask what they want to gain by social media "The tools will change by user and data, and costs depend more or less on complexity."
Create Your Free Infographic!