Social media has effectively altered a number of ways humans operate: the international political scene is different because of its use as a forum for activism; communication technology has changed because of social media’s vital role; business has altered to incorporate a newfound method of marketing. But in one way, business will not change because of social media, according to the Securities and Exchange Commission. As the SEC figures out how the future of business compliance will incorporate online tools, it has decided that a total rewrite of its rules is not necessary because of the new role of social media.
Some specific principles will stay in place. Financial Planning reports that the SEC will maintain its regulations regarding compliance, record keeping, and anti-fraud. The guidance provided for advertising and promotion — especially in terms of the records kept on the material post through advertising channels — will stay the same regarding the inclusion of entities such online social networks.