The Crowne Plaza
Times Square Manhattan
New York, NY 10019
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Friday, December 6, 2013
SOCIAL MEDIA RED FLAGS: HOW TO STAY ON THE RIGHT SIDE OF THE FFIEC’S NEW RULES
Many financial institutions are finding social media to be an important marketing tool.
At the same time, a wide variety of laws, regulations, and policies can be relevant to financial institutions’ use of social media, and compliance risk and other risks can arise. In addition to compliance risks and the applicability of specific laws and regs, reputation risk can also be of particular concern – not only regarding what a financial institution says on social media, but what is said about the financial institution. Novel third-party risks can also arise, particularly from working with third parties that are not traditional service providers. This session will help attendees understand how to mitigate those risks. It will provide an in-depth discussion of the FFIEC’s guidance on compliance-related risks raised by social media, including discussions on key laws and regulations that may apply.