Helping the financial industry adopt social networking
Facebook is home to over 750 million users - can there be a better reason as to why your firm needs to have a facebook page?
Although the appearance and basic organization of Facebook changes regularly, especially since Google Plus joined the game, the basic compliance issues and rules remain unchanged. Determine whether action is related to business, and if it is whether it is “static” or “interactive”. If it is static then it must receive pre-approval by a registered principal from your firm. Interactive content, on the other hand, requires on-going supervision and random post-reviews. Both static and interactive content need to be archived for a minimum of 3 years.
When setting up a facebook business page, you first have to set up a Personal Facebook Account. This article will attempt to walk you through the compliance issues that you are faced with in setting up your Personal Facebook account.
The Facebook "Wall" page: This is the page where you can post "status updates", visitors can see your facebook actions as well as access some of your personal information, view the photos that you have uploaded, and see your friends list.

Facebook Picture: Your picture, whether of you, your company logo, or something else should be considered:
Custom URL: Facebook allows you to set up a custom URL for your Facebook page

“Photos”: Facebook allows you to upload photos to your facebook account.
“Edit Profile”: This button will take you to your profile page where you can enter some basic information about yourself.

Continuing down the options on the left-hand side of the page, you will see links that will allow you to update Profile information about your Work and Education history, Philosophy, Sports, Art & Entertainment, Activities & Interests, Basic Information, and Contact Information.

“Notes”: You can create “notes” in your accounts. These are generally longer than updates
and can be viewed and commented on by friends or fans.
One of the primary actions that can occur on “Wall” page is the posting of a “Status Update”.

A “Status Update” could be a statement, comment, a link to an article or webpage, a video, or a picture. The “updates” will appear on your wall in chronological order and will move down the page as new updates are added. They will also appear on some of your “friends” Facebook “Home” pages.
“Deleting a Status Update”: An update can be deleted by moving your mouse cursor over the right-hand upper corner of the update. An arrow will appear with a drop down menu that includes the option to delete the update.

As the “status update” may have been seen prior to deleting the post, the update must still be treated as a post from a compliance perspective.
Allowing “Likes": Your Facebook “Friends” can “like” your “status update” by clicking on the “like” link just below your status update.
Allowing “Comments”: Your Facebook “Friends” can “comment” on your “status updates” by clicking on the “comment” link below your status update.
“Deleting a Comment”: You can delete any comment that is left on your “Wall”. If you feel that a comment is inappropriate, you can delete it by moving your mouse cursor over the comment and clicking on the X that appears in the top right hand corner of the comment box.
Thanks for visiting our blog. As always any comments or questions are welcomed and appreciated.
Check back soon for part 2 of this article or subscribe to get updates. Visit our website for more information on Smarsh Compliance Solutions.
Related Articles:
Compliance for LinkedIn Part 1
© 2012 Created by Chad Bockius.
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