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SEC steps up scrutiny of adviser use of social media

September 6, 2016

SEC steps up scrutiny of adviser use of social media

New rule to include site information on Form ADV part of evolving regulations on the web tool

Sep 1, 2016 @ 1:00 pm | By Mark Schoeff Jr. | Investment News

The Securities and Exchange Commission is taking a closer look at advisers’ use of social media by making their activity part of their annual disclosures to the agency.

In a recently released final rule, the SEC said it is adding to Form ADV a section that asks advisers to list the addresses of their pages on Twitter, Facebook, LinkedIn and other sites. Previously, the document only asked for the address of an adviser’s own website.

“Our staff may use this information to help prepare for examinations of investment advisers and compare information that advisers disseminate across different social media platforms, as well as to identify and monitor new platforms,” the rule states.

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Thomas E. Burns, III
July 29, 2015
February 22, 2016

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