LinkedIn Advertising Compliance For Broker-Dealers: FINRA Rule 2210 Requirements

LinkedIn advertising compliance for broker-dealers requires strict adherence to FINRA Rule 2210, SEC regulations, and industry best practices to ensure all social media marketing meets regulatory standards. Broker-dealers face unique challenges when using LinkedIn for business development, as every post, sponsored content piece, and engagement must comply with securities regulations while maintaining effective marketing outcomes.

Key Summary: Broker-dealers must implement comprehensive compliance frameworks for LinkedIn advertising, including pre-approval processes, recordkeeping requirements, and ongoing supervision to meet FINRA and SEC obligations while achieving marketing objectives.

Key Takeaways:

• FINRA Rule 2210 governs all broker-dealer communications, including LinkedIn advertising and sponsored content
• Pre-approval processes are mandatory for most LinkedIn advertising campaigns involving securities-related content
• Recordkeeping requirements extend to all social media interactions, including LinkedIn messages and post engagements
• Supervision policies must address LinkedIn advertising activities and assign qualified principals for oversight
• Risk disclosure requirements apply to performance claims, testimonials, and product recommendations on LinkedIn
• Cross-platform compliance strategies ensure consistent messaging across all digital marketing channels

This article explores LinkedIn advertising compliance for broker-dealers within the broader context of compliance-first marketing for financial institutions, providing practical frameworks for maintaining regulatory adherence while achieving business development goals through professional networking platforms.

What Are the Core Regulatory Requirements for Broker-Dealer LinkedIn Advertising?

Broker-dealer LinkedIn advertising must comply with a comprehensive regulatory framework that encompasses FINRA Rule 2210, SEC advertising rules, and state securities regulations. These requirements apply to all forms of LinkedIn marketing, from organic posts to sponsored campaigns and direct messaging activities.

FINRA Rule 2210: The primary regulation governing broker-dealer communications, including all social media activities, advertising, and customer interactions conducted through digital platforms like LinkedIn. Rule 2210 establishes content standards, approval requirements, and supervision obligations for all member firms.

The regulatory framework divides LinkedIn activities into three categories: institutional communications, retail communications, and correspondence. Each category carries different compliance obligations:

• Institutional Communications: LinkedIn content directed exclusively to institutional investors, banks, or other broker-dealers
• Retail Communications: Any LinkedIn advertising or content accessible to retail investors or the general public
• Correspondence: Direct LinkedIn messages or communications with 25 or fewer retail investors within 30 calendar days

Retail communications through LinkedIn require pre-approval by a registered principal before publication, while correspondence generally requires post-use review within established supervision policies. Institutional communications may be exempt from pre-approval but must still comply with content standards and recordkeeping requirements.

The SEC's Investment Adviser Marketing Rule also applies to dual-registrants or affiliated investment advisers, adding additional layers of compliance requirements for testimonials, endorsements, and performance advertising on LinkedIn platforms.

How Should Broker-Dealers Structure Their LinkedIn Content Approval Process?

Effective LinkedIn content approval processes require designated qualified principals, standardized review procedures, and documented approval workflows that ensure regulatory compliance before publication. Most broker-dealers implement multi-tier approval systems that scale with content complexity and risk levels.

The approval process typically follows this structured approach:

1. Content Creation and Initial Review: Marketing teams or registered representatives create LinkedIn content following pre-established templates and compliance guidelines
2. Compliance Department Review: Designated compliance personnel review content for regulatory adherence, disclosure requirements, and risk factors
3. Principal Approval: A qualified principal reviews and formally approves content before LinkedIn publication
4. Documentation and Filing: Approved content is documented in compliance records with approval dates, reviewer signatures, and retention schedules

Many firms establish expedited approval processes for recurring content types, such as market commentary or educational posts, while maintaining full review procedures for promotional content, performance claims, or product-specific advertising.

Qualified Principal: A FINRA-registered principal with appropriate licensing (Series 24, 9/10, or equivalent) who has been designated by the broker-dealer to approve communications and supervise marketing activities in accordance with FINRA rules.

Technology solutions increasingly support approval workflows through automated review systems that flag potentially problematic content, track approval status, and maintain audit trails. Firms utilizing specialized compliance platforms can reduce approval timeframes while maintaining thorough oversight of LinkedIn advertising activities.

What Recordkeeping Requirements Apply to LinkedIn Advertising Activities?

Broker-dealers must maintain comprehensive records of all LinkedIn advertising activities, including approved content, engagement metrics, audience targeting parameters, and supervision documentation. FINRA requires firms to preserve these records for at least three years, with the first two years in an easily accessible location.

Essential recordkeeping requirements include:

• Content Archives: Complete copies of all LinkedIn posts, sponsored content, and advertising materials with publication dates
• Approval Documentation: Principal approval signatures, review dates, and any revision history for each piece of content
• Targeting Data: Audience demographics, geographic parameters, and professional criteria used for LinkedIn advertising campaigns
• Performance Metrics: Engagement rates, click-through data, and conversion tracking for compliance reporting and supervision
• Correspondence Records: Direct LinkedIn messages, connection requests, and private communications with prospects or clients
• Supervision Reports: Regular review documentation, exception reports, and corrective action records

Many broker-dealers implement automated archiving solutions that capture LinkedIn content and interactions in real-time, ensuring complete record preservation without manual intervention. These systems often integrate with existing compliance management platforms to provide centralized oversight of all marketing activities.

The challenge of LinkedIn recordkeeping extends to employee personal accounts when used for business purposes. Firms must establish clear policies regarding personal LinkedIn usage and implement monitoring procedures to capture business-related communications that occur outside official company accounts.

How Do Disclosure Requirements Apply to LinkedIn Marketing Content?

LinkedIn marketing content must include appropriate risk disclosures, regulatory notices, and firm identification information to meet FINRA and SEC requirements. The challenge lies in incorporating these disclosures within LinkedIn's character limits and format constraints while maintaining marketing effectiveness.

Standard disclosure requirements for broker-dealer LinkedIn content include:

• Firm Identification: Clear identification of the broker-dealer firm name and registration status
• Risk Warnings: Appropriate disclaimers regarding investment risks, market volatility, and potential losses
• Performance Disclosures: Required notices for any performance claims, historical returns, or investment results
• Testimonial Disclaimers: Proper disclosures when featuring client testimonials or endorsements
• Regulatory Notices: SIPC coverage information, registration details, and complaint procedures where applicable

LinkedIn's format limitations require creative approaches to disclosure compliance. Many firms use abbreviated disclosures with links to complete disclosure documents, implement disclosure graphics that convey required information visually, or utilize LinkedIn's extended content features to include comprehensive disclaimers.

Performance Claims: Any LinkedIn content that references investment returns, portfolio performance, or comparative results must include standardized risk disclosures, time period specifications, and methodology explanations as required by FINRA Rule 2210 and SEC regulations.

The timing and prominence of disclosures remain critical compliance factors. Risk warnings and disclaimers must appear contemporaneously with marketing claims and in sufficiently prominent format to ensure investor awareness of key information.

What Are the Best Practices for LinkedIn Audience Targeting Compliance?

Compliant LinkedIn audience targeting requires careful consideration of suitability obligations, fair dealing principles, and anti-discrimination requirements that apply to broker-dealer marketing activities. Firms must ensure their targeting parameters align with regulatory standards while achieving marketing objectives.

Effective targeting compliance strategies include:

• Demographic Appropriateness: Ensuring targeting criteria align with the sophistication and risk tolerance of intended audiences
• Geographic Limitations: Restricting campaigns to jurisdictions where the firm is licensed and registered to conduct business
• Professional Qualifications: Using LinkedIn's professional targeting to reach appropriate investor categories (accredited, institutional, qualified)
• Content Matching: Aligning targeting parameters with content complexity and risk levels
• Exclusion Lists: Implementing negative targeting to exclude inappropriate audiences or restricted individuals

Many broker-dealers establish targeting guidelines that specify approved audience parameters for different content types. Educational content may target broader professional audiences, while specific product promotions require more restrictive targeting to qualified or accredited investors.

Documentation of targeting rationale becomes essential for regulatory examinations and supervision reporting. Firms should maintain records explaining audience selection criteria and the business justification for each targeting approach.

How Should Broker-Dealers Handle LinkedIn Engagement and Response Management?

LinkedIn engagement management requires immediate response protocols, escalation procedures, and compliance oversight to ensure all interactions meet regulatory standards. Broker-dealers must treat LinkedIn comments, messages, and connection requests as potential regulatory communications requiring appropriate supervision.

Comprehensive engagement management includes:

1. Response Time Standards: Establishing maximum response times for different types of LinkedIn interactions
2. Escalation Triggers: Defining when LinkedIn conversations require principal review or legal consultation
3. Content Guidelines: Providing standardized responses for common inquiries while avoiding unsuitable advice
4. Documentation Requirements: Recording all meaningful LinkedIn interactions in customer relationship management systems

The challenge of LinkedIn engagement lies in balancing responsive customer service with compliance obligations. Representatives must avoid providing investment advice through LinkedIn while maintaining professional relationship-building activities.

Many firms implement LinkedIn response templates that provide compliant language for common scenarios, such as directing prospects to formal consultation processes or declining to provide specific investment recommendations through social media channels.

What Technology Solutions Support LinkedIn Advertising Compliance?

Specialized compliance technology platforms provide automated monitoring, approval workflows, and recordkeeping capabilities specifically designed for broker-dealer social media activities. These solutions integrate with LinkedIn's advertising platform to provide seamless compliance oversight without disrupting marketing operations.

Key technology capabilities include:

• Content Scanning: Automated review of LinkedIn posts for prohibited language, missing disclosures, or regulatory red flags
• Approval Workflows: Digital approval processes with electronic signatures and audit trails
• Real-Time Monitoring: Continuous surveillance of LinkedIn activities, engagement patterns, and compliance exceptions
• Automated Archiving: Complete capture and storage of LinkedIn content, interactions, and advertising data
• Reporting Dashboards: Management reporting on compliance metrics, approval timeframes, and supervision activities
• Integration Capabilities: Connectivity with existing compliance management systems and customer relationship platforms

The selection of appropriate technology solutions depends on firm size, LinkedIn usage volume, and existing compliance infrastructure. Larger broker-dealers often require enterprise-grade solutions with advanced customization capabilities, while smaller firms may benefit from cloud-based platforms with standardized compliance features.

Social Media Compliance Platforms: Specialized software solutions designed to monitor, approve, and archive social media activities for financial services firms, providing automated compliance oversight while maintaining marketing flexibility and business development capabilities.

How Do Supervision Requirements Apply to LinkedIn Marketing Activities?

FINRA requires broker-dealers to establish and maintain appropriate supervision systems for all LinkedIn marketing activities, including written procedures, designated supervisors, and regular review processes. Supervision obligations extend beyond content approval to encompass ongoing monitoring of LinkedIn engagement and compliance effectiveness.

Comprehensive supervision frameworks address:

• Written Procedures: Detailed policies governing LinkedIn usage, approval processes, and compliance standards
• Designated Supervisors: Assignment of qualified principals responsible for LinkedIn oversight and compliance monitoring
• Regular Reviews: Periodic assessment of LinkedIn activities, compliance exceptions, and policy effectiveness
• Training Programs: Ongoing education for personnel involved in LinkedIn marketing and compliance activities
• Exception Reporting: Systems for identifying and addressing LinkedIn compliance violations or policy breaches

The frequency and scope of supervision activities should correspond to the firm's LinkedIn usage patterns and risk profile. Firms with extensive LinkedIn advertising programs require more intensive supervision than those using LinkedIn primarily for relationship maintenance.

Many broker-dealers establish monthly or quarterly supervision reports that summarize LinkedIn activities, compliance metrics, and any corrective actions taken during the review period. These reports provide documentation for regulatory examinations and senior management oversight.

What Are Common LinkedIn Advertising Compliance Violations and How to Avoid Them?

Common LinkedIn advertising violations include inadequate disclosures, unauthorized performance claims, inappropriate audience targeting, and insufficient supervision documentation. Understanding these frequent compliance failures helps broker-dealers implement preventive measures and avoid regulatory sanctions.

Comparison: Common Violation Types and Prevention Strategies

Inadequate Risk Disclosures

• Common Issues: Missing disclaimers, buried disclosures, incomplete risk warnings
• Prevention: Standardized disclosure templates, prominence requirements, automated compliance checks
• Best Practice: Include risk disclosures in main content area, not just fine print or linked documents

Performance Claims Violations

• Common Issues: Unsubstantiated returns, cherry-picked performance, missing time periods
• Prevention: Performance advertising policies, required documentation, principal approval for all claims
• Best Practice: Limit performance content to verified, representative results with complete disclosure packages

Supervision Documentation Gaps

• Common Issues: Missing approval records, inadequate review documentation, incomplete archiving
• Prevention: Automated workflows, electronic approval systems, comprehensive recordkeeping platforms
• Best Practice: Implement redundant documentation systems with regular audit procedures

Proactive compliance monitoring helps identify potential violations before they result in regulatory action. Regular self-assessments and compliance audits provide opportunities to address gaps in LinkedIn advertising oversight and improve overall compliance effectiveness.

How Should Broker-Dealers Develop LinkedIn Crisis Communication Plans?

LinkedIn crisis communication planning requires immediate response protocols, stakeholder notification procedures, and regulatory reporting obligations specific to social media incidents. Broker-dealers must prepare for various crisis scenarios, from compliance violations to reputational challenges that may emerge through LinkedIn platforms.

Essential crisis planning elements include:

• Incident Classification: Defined categories for different types of LinkedIn-related crises and appropriate response levels
• Response Teams: Designated personnel responsible for crisis management, including compliance, legal, and communications staff
• Communication Templates: Pre-approved messaging for common crisis scenarios, including regulatory violations or public relations challenges
• Escalation Procedures: Clear protocols for involving senior management, legal counsel, and regulatory authorities when necessary
• Media Management: Strategies for addressing negative publicity or regulatory enforcement actions related to LinkedIn activities

The speed of social media communication requires crisis plans that can be activated immediately when LinkedIn-related issues arise. Delayed responses often compound initial problems and may result in additional regulatory scrutiny or reputational damage.

Regular crisis simulation exercises help ensure response teams understand their responsibilities and can execute crisis plans effectively under pressure. These exercises should include LinkedIn-specific scenarios such as viral negative content, compliance violations, or unauthorized employee communications.

What Training Requirements Apply to Personnel Using LinkedIn for Business?

Comprehensive training programs must address LinkedIn-specific compliance requirements, platform functionality, and regulatory obligations for all personnel involved in business-related LinkedIn activities. Training should cover both initial certification requirements and ongoing education to maintain compliance awareness.

Effective training programs include:

1. Platform-Specific Training: LinkedIn functionality, privacy settings, and professional networking best practices
2. Regulatory Education: FINRA Rule 2210, SEC advertising rules, and other applicable compliance requirements
3. Firm Policy Training: Internal procedures, approval processes, and documentation requirements
4. Practical Application: Hands-on exercises using actual LinkedIn scenarios and compliance challenges
5. Regular Updates: Ongoing education addressing regulatory changes, platform updates, and emerging compliance issues

Training documentation becomes essential for demonstrating compliance efforts during regulatory examinations. Firms should maintain records of training completion, test scores, and any remedial education provided to personnel who fail to meet competency standards.

Many broker-dealers require annual LinkedIn compliance certification for all personnel with business-related social media access, ensuring consistent understanding of current requirements and firm policies.

How Do State Securities Regulations Impact LinkedIn Advertising Compliance?

State securities regulations add additional compliance layers to LinkedIn advertising, particularly regarding registration requirements, notice filings, and advertising restrictions that vary by jurisdiction. Broker-dealers must consider multi-state compliance when designing LinkedIn campaigns that may reach audiences across different regulatory environments.

Key state-level considerations include:

• Registration Status: Ensuring LinkedIn campaigns only target jurisdictions where the firm is properly registered
• Advertising Restrictions: Complying with state-specific limitations on investment advertising and promotional content
• Notice Requirements: Filing advertising materials with state regulators when required by local rules
• Suitability Standards: Meeting state-imposed suitability obligations that may exceed federal requirements
• Recordkeeping Variations: Addressing different state requirements for advertising record preservation and reporting

Geographic targeting capabilities on LinkedIn require careful compliance mapping to ensure campaigns align with the firm's registration footprint. Many broker-dealers maintain jurisdiction matrices that specify approved targeting parameters for each state where they conduct business.

The complexity of multi-state compliance often necessitates legal review of LinkedIn advertising campaigns, particularly for firms operating across numerous jurisdictions with varying regulatory requirements.

What Are the Integration Requirements Between LinkedIn and Other Marketing Channels?

LinkedIn advertising integration with other marketing channels requires consistent compliance standards, unified messaging protocols, and comprehensive oversight systems that address cross-platform coordination. Broker-dealers must ensure their LinkedIn activities align with broader marketing compliance frameworks.

Integration best practices include:

• Consistent Messaging: Ensuring LinkedIn content aligns with advertising materials across all marketing channels
• Unified Compliance: Applying consistent approval processes and disclosure requirements across platforms
• Cross-Platform Monitoring: Implementing oversight systems that track compliance across LinkedIn and other marketing activities
• Coordinated Campaigns: Developing integrated marketing approaches that leverage LinkedIn alongside traditional advertising methods
• Consolidated Reporting: Creating comprehensive compliance reports that encompass all marketing channel activities

The challenge of integration lies in maintaining platform-specific optimization while ensuring regulatory consistency. LinkedIn's professional networking environment may require different messaging approaches than traditional advertising, but compliance standards must remain uniform.

Cross-Platform Compliance: The practice of maintaining consistent regulatory standards and oversight procedures across multiple marketing channels, ensuring that LinkedIn activities align with broader compliance frameworks while addressing platform-specific requirements and opportunities.

Frequently Asked Questions

Basics

1. What specific FINRA rules govern LinkedIn advertising for broker-dealers?

FINRA Rule 2210 is the primary regulation governing all broker-dealer communications, including LinkedIn advertising. This rule establishes content standards, approval requirements, and supervision obligations for social media marketing activities.

2. Do all LinkedIn posts require pre-approval from a principal?

Retail communications through LinkedIn require pre-approval by a registered principal before publication. Correspondence (direct messages to 25 or fewer retail investors within 30 days) typically requires post-use review, while institutional communications may be exempt from pre-approval.

3. What qualifies as a "retail communication" on LinkedIn?

Any LinkedIn advertising or content accessible to retail investors or the general public qualifies as retail communication. This includes sponsored posts, company page updates, and public content that could be viewed by non-institutional investors.

4. How long must broker-dealers keep LinkedIn advertising records?

FINRA requires firms to preserve LinkedIn advertising records for at least three years, with the first two years maintained in an easily accessible location. Records must include content archives, approval documentation, and engagement data.

5. Can individual registered representatives use personal LinkedIn accounts for business development?

Personal LinkedIn usage for business purposes is subject to firm supervision and compliance requirements. Most broker-dealers require pre-approval for business-related personal posts and implement monitoring procedures for employee social media activities.

How-To

6. How should broker-dealers structure their LinkedIn content approval workflow?

Effective workflows typically include content creation, compliance department review, principal approval, and documentation filing. Many firms use automated systems to track approval status and maintain audit trails for regulatory examinations.

7. What disclosure information must be included in LinkedIn advertising?

LinkedIn ads must include firm identification, appropriate risk warnings, performance disclaimers when applicable, and regulatory notices such as SIPC coverage information. Disclosures must be prominent and contemporaneous with marketing claims.

8. How can firms handle LinkedIn's character limits while including required disclosures?

Common strategies include abbreviated disclosures with links to complete documents, disclosure graphics that convey required information visually, and utilizing LinkedIn's extended content features for comprehensive disclaimers.

9. What supervision procedures should firms implement for LinkedIn activities?

Comprehensive supervision includes written procedures, designated supervisors, regular review processes, training programs, and exception reporting systems. Supervision frequency should correspond to the firm's LinkedIn usage patterns and risk profile.

10. How should firms document LinkedIn advertising campaigns for compliance purposes?

Documentation should include content archives, approval records, targeting parameters, performance metrics, and supervision reports. Many firms use automated archiving solutions to capture LinkedIn activities in real-time.

Comparison

11. How do LinkedIn compliance requirements differ from other social media platforms?

While FINRA Rule 2210 applies consistently across platforms, LinkedIn's professional networking environment may require different disclosure approaches and targeting strategies compared to consumer-focused platforms like Facebook or Twitter.

12. What's the difference between organic LinkedIn posts and paid advertising in terms of compliance?

Both organic posts and paid advertising must comply with FINRA Rule 2210, but paid advertising typically requires more extensive documentation of targeting parameters and performance metrics for compliance reporting purposes.

13. How do compliance requirements differ between LinkedIn company pages and individual profiles?

Company page content generally requires formal approval processes and comprehensive supervision, while individual profile activities may be subject to different oversight procedures depending on the firm's social media policies and the nature of business-related communications.

14. Should broker-dealers use LinkedIn Sales Navigator differently from regular LinkedIn for compliance purposes?

Sales Navigator activities are subject to the same compliance requirements as regular LinkedIn usage, but the enhanced prospecting capabilities may require additional supervision procedures and documentation of client interaction records.

Troubleshooting

15. What should firms do if LinkedIn advertising content violates compliance requirements after publication?

Immediate response protocols should include content removal, incident documentation, regulatory notification if required, corrective action implementation, and review of approval processes to prevent future violations.

16. How should broker-dealers handle negative comments or complaints on LinkedIn posts?

Response protocols should include escalation procedures for serious complaints, standardized responses for common issues, documentation requirements, and potential regulatory reporting obligations depending on the nature of the complaints.

17. What steps should firms take if employees violate LinkedIn compliance policies?

Violation response should include immediate content review, disciplinary action as appropriate, additional training requirements, enhanced supervision procedures, and documentation of corrective measures taken.

18. How can firms address LinkedIn advertising campaigns that inadvertently target inappropriate audiences?

Corrective measures include immediate campaign suspension, audience parameter revision, review of targeting approval procedures, and implementation of enhanced controls to prevent similar incidents.

Advanced

19. How do multi-state registration requirements affect LinkedIn advertising targeting?

Geographic targeting must align with the firm's registration footprint, ensuring campaigns only reach jurisdictions where the broker-dealer is properly licensed to conduct business. This often requires jurisdiction mapping and targeting restrictions.

20. What compliance considerations apply to LinkedIn video content and live streaming?

Video content is subject to the same approval and disclosure requirements as other communications, with additional considerations for real-time content that may be difficult to review before broadcast. Many firms require pre-scripted content and principal supervision for live streaming activities.

21. How should broker-dealers handle LinkedIn advertising for complex products or alternative investments?

Complex product advertising typically requires enhanced disclosure requirements, sophisticated investor targeting, additional principal review, and comprehensive suitability considerations that may exceed standard LinkedIn advertising compliance procedures.

Compliance/Risk

22. What are the potential penalties for LinkedIn advertising compliance violations?

Violations may result in FINRA disciplinary action, including censure, fines, suspension, or prohibition from the securities industry. The severity of penalties depends on the nature of violations and the firm's compliance history.

23. How do cybersecurity requirements apply to LinkedIn advertising activities?

Cybersecurity considerations include data protection for targeting information, secure access controls for advertising accounts, monitoring for unauthorized access, and incident response procedures for potential security breaches affecting LinkedIn activities.

24. What liability issues should broker-dealers consider with LinkedIn advertising?

Potential liability areas include unsuitable recommendations, inadequate disclosures, privacy violations, and third-party content endorsements. Comprehensive insurance coverage and legal review procedures help mitigate these risks.

25. How should firms prepare for regulatory examinations of LinkedIn advertising activities?

Examination preparation should include comprehensive record organization, policy documentation, supervision evidence, training records, and corrective action documentation. Regular self-assessments help identify potential examination issues before regulatory review.

Conclusion

LinkedIn advertising compliance for broker-dealers requires comprehensive frameworks that address regulatory requirements, supervision obligations, and risk management considerations specific to professional networking platforms. Success depends on implementing robust approval processes, maintaining detailed documentation, and ensuring ongoing compliance monitoring that adapts to evolving regulatory expectations and platform capabilities.

When developing compliant LinkedIn advertising strategies, broker-dealers should prioritize regulatory adherence while maintaining marketing effectiveness through proper planning, adequate resources, and continuous compliance education. The integration of specialized technology solutions, comprehensive training programs, and crisis management procedures provides the foundation for sustainable LinkedIn marketing that meets both business objectives and regulatory obligations.

For broker-dealers seeking to develop compliant LinkedIn advertising strategies that balance regulatory requirements with business development goals, explore WOLF Financial's specialized compliance consulting services designed specifically for institutional financial marketing.

References

1. FINRA. "FINRA Rule 2210 - Communications with the Public." FINRA Manual. https://www.finra.org/rules-guidance/rulebooks/finra-rules/2210
2. Securities and Exchange Commission. "Investment Adviser Marketing Rule." 17 CFR 275.206(4)-1. https://www.sec.gov/rules/final/2020/ia-5653.pdf
3. FINRA. "Social Media and Digital Communications." Regulatory Notice 17-18. https://www.finra.org/rules-guidance/notices/17-18
4. Securities and Exchange Commission. "Guidance on Social Media and Investment Adviser Marketing." Division of Investment Management Guidance Update. https://www.sec.gov/investment/guidance/social-media-guidance-update.pdf
5. FINRA. "Digital Communications: Supervision and Review." Regulatory Notice 15-31. https://www.finra.org/rules-guidance/notices/15-31
6. North American Securities Administrators Association. "Model Rule on the Use of Social Media." NASAA Policy Statement. https://www.nasaa.org/policy/model-rules-statements/
7. FINRA. "Books and Records Requirements for Digital Communications." SEA Rules 17a-3 and 17a-4. https://www.finra.org/rules-guidance/guidance/faqs/books-and-records-faqs
8. Securities and Exchange Commission. "Regulation Best Interest and Form CRS." Release No. 34-86031. https://www.sec.gov/rules/final/2019/34-86031.pdf
9. FINRA. "Supervision and Supervisory Controls." FINRA Rule 3110. https://www.finra.org/rules-guidance/rulebooks/finra-rules/3110
10. Securities and Exchange Commission. "Risk Alert: Investment Adviser Use of Social Media." Office of Compliance Inspections and Examinations. https://www.sec.gov/files/social-media-risk-alert.pdf

Important Disclaimers

Disclaimer: Educational information only. Not financial, legal, medical, or tax advice.

Risk Warnings: All investments carry risk, including loss of principal. Past performance is not indicative of future results.

Conflicts of Interest: This article may contain affiliate links; see our disclosures.

Publication Information: Published: 2025-11-03 · Last updated: 2025-11-03

About the Author

Author: Gav Blaxberg, Founder, WOLF Financial
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