CMP.LY has introduced CMP.LY4Finance, a system that uses social media to make financial compliance disclosures.
CMP.LY4Finance provides disclosure codes supported by a compliance management tool to address financial services disclosure and compliance requirements under SEC and FINRA guidelines. CMP.LY4Finance provides a CMP.LY/F disclosure code that indicates to consumers a disclosure related to a message as they view it, and provides linked access to complete disclosure details. The system provides financial services professionals with the ability to responsibly engage in social media.
CMP.LY/F codes were introduced last week through a partnership with StockTwits, a real-time financial idea network and community. StockTwits is using CMP.LY/F codes to give investor relations professionals a way to make disclosures in social media communications as part of a new offering that was also released last week. The full CMP.LY/F system, which addresses key activities and functions including broker/dealer communications, investor relations, employee communications, and other needs for "fine print" in social media communications, will be available to CMP.LY customers and partners later this summer.
"We've spoken to a number of financial services professionals who have watched from the sidelines as the power of social media engagement grew exponentially for their less regulated counterparts,” said CMP.LY CEO Tom Chernaik in a statement. “Their concern about the inability to use these channels to connect with consumers and their strong desire to give their teams meaningful access to platforms such as Twitter, Facebook and LinkedIn was our impetus for creating this customized solution. CMP.LY4Finance is an extension of the existing CMP.LY framework. It meets the specific needs of this market with integrated auditing and compliance review functions. What we've created is a tool that allows these companies to advance past simple access and actually let employees, brokers, agents, and advisors participate in social media in a meaningful, organic way rather than with a pre-approved, canned type of interaction."
For more information, visit http://www.cmp.ly.
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