FSA should develop social media guidance, legal expert warns
US FFIEC, meanwhile, releases proposed guidance on social media
The US Federal Financial Institutions Examination Council (FFIEC) has released proposed guidance on the use of social media by banks – and UK regulators need to follow suit, one legal expert warns.
"The Financial Services Authority has focused on issues such as financial promotions, but we really need some clarity with regards to how employees can engage with social media, and when activities online can amount to criminal activities, such as in relation to copyright infringement," says Luke
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