ACA Compliance Group ("ACA") is pleased to introduce our Social Media Surveillance service, which expands the offerings of our Compliance Support Solutions. ACA's Social Media Surveillance service can assist compliance departments with identifying online activity that could pose a reputational risk to the firm or indicate a compliance violation. This service also can assist firms with addressing regulatory guidance on the use of social media by investment advisers and their employees (see the SEC staff's Investment Adviser Use of Social Media National Examination Risk Alert and March 2014 Guidance Update, and FINRA Regulatory Notices 10-06 and 11-39).
Many firms are concerned with how their employees use social media for business purposes, and with the general unknown of what information about the firm or its business dealings is being posted on social media. Many compliance officers do not have the resources necessary to perform periodic comprehensive reviews of social media usage by employees. Other firms are able to spend time on widely known sites such as Facebook, LinkedIn, and Twitter, but are concerned with unknown activity on lesser-known social media forums, such as those that are geared toward traders or that focus on investment ideas.
ACA’s Social Media Surveillance service can help ease these concerns by providing compliance departments with the resources necessary to assist with social media surveillance. Our experienced surveillance team will work with you to identify focus areas and help uncover potentially risky employee behavior or confirm that employees are not using social media in a way that presents risk to the firm.
About ACA's Compliance Support Solutions
ACA's Social Media Surveillance service is offered as part of our Compliance Support Solutions, which help CCOs manage their budgets and do more with less. Other compliance support solutions include both on- and off-site compliance support services, strategic compliance program and resource reviews, and secondment and staffing assistance.
About ACA's Analysis and Review Center
ACA's Social Media Surveillance service is provided by ACA's Analysis and Review Center ("the ARC") team. Established in Pittsburgh in 2014, the ARC assists investment advisers and broker-dealers with their compliance needs in an efficient and cost-effective manner. The ARC's team, which is overseen by a former regulator and a former CCO, has practical experience and knowledge specific to these firms’ regulatory challenges and obligations.