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Social Media Rules and Regulations



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In today's world, companies must manage and monitor social media messages to prevent any potential problems. Although social media is a great tool to build brands and attract customers, it can also pose a risk. Financial brands need to create social media policies for staff and provide training. These policies should be clear and include guidelines on acceptable use as well as consequences for any violations. Companies can reduce the risk of employees making mistakes and quickly identify potential risks by creating policies for social media.

Companies should remember that social media policies are enforced by the company and employees may be subject to penalties if they violate them. Employees, for example, can post inappropriate and inaccurate information about the company, damaging the brand reputation. Every company must keep social media communications archived. Therefore, compliance guidelines for social media and training should be a core part of their social media strategy. However, social media compliance must be used to support growth and not hinder it.


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In addition to training staff, companies should develop policies that recognize the value of social media to the company. They should be clear and cross-referenced in other policies, like those for electronic devices with a Social component. A company that relies on the social network to communicate with customers and potential customers is well advised to develop policies for social media. The policies need to be considered in light the company's unique social media presence as well as the regulatory requirements.


A company's overall code of ethics and compliance program should inform the creation of a policy for social media. Companies should make sure employees don't take company resources and use them for their own purposes. Employees should not disparage other users or engage in conflicts of interest. Companies need to be ready for any social media risk. Companies should have a social media policy in place to safeguard their reputation and avoid potential pitfalls. You should also establish and implement a social compliance policy for social media that is proportional and sensitive to your organization's risks and exposures.

Companies should also consider whether they need to restrict employees' access to company social media. A breach of social media compliance may jeopardize the company's competitive edge or conflict with official communications. Similarly, employees may engage in inappropriate discussions about colleagues on social networking sites, discussion boards, blogs, and photo-sharing sites. It is also risky to use company assets for this activity. You should limit the use of company social media accounts and disclaim that the account is the owner.


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It is important for companies to understand the industry's privacy and confidentiality requirements. For example, marketers of educational institutions must abide by the Family Educational Rights and Privacy Act (FERPA). HIPAA regulations must be understood by healthcare workers. These regulations include the re-sharing of social posts without consent. An internal social media policy is essential to ensure HIPAA compliance. As with all compliance policies, an internal social media strategy is vital for protecting patients' privacy.


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Social Media Rules and Regulations