Category: enterprise

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Social Media Legal News Roundup

1. Content & Marketing

MutualMind Signs Agreement With LexisNexis to Offer Advanced Social Media
MarketWatch (press release)

PRNewswire via COMTEX/ — MutualMind, an award-winning social media technology developer based in Dallas, Texas, announced an agreement today with LexisNexis, a leading provider of legal content and technology solutions.

Facebook: Should Law Firms Bother?
Business 2 Community

While consumer brands have embraced Facebook as a key tool in building deeper customer engagement, the biggest social network largely remains terra incognita in the legal world. The sector has certainly harnessed professional networking sites.

2. International

Bahrain may act against social media abuse
Trade Arabia

Legal action could be taken against people in Bahrain, who incite violence and spread sectarianism on social media, said a top official. The initiative comes as a new code of honour for social media users is set to be launched by the Bahrain Bloc.

3. Law Enforcement

Infographic: How police investigators are using social media
Police News

An overwhelming majority of investigators using social media for investigative purposes are “self taught,” according to a new survey of 1200 Federal, state, and local law enforcement professionals.

Social media for investigators: Why Police departments should invest in training
Police News

That’s but one of the many conclusions found in a comprehensive new survey — conducted in a partnership between PoliceOne and LexisNexis Risk Solutions — focused on the impact of social media on law enforcement in criminal investigations. Among the …

4. Employees & Workplace

What your social media profile is telling future employers? (Take our poll)
Plain Dealer

The State of Maryland already has passed a law forbidding employers from asking job candidates for their passwords to Facebook and other social media sites, and California is considering a similar law. 01fgSCREEN2.jpg View full size · The Society for …

Social Media in the Workplace – July 2012
JD Supra (press release)

With an understanding of some of the relevant issues, employers can implement meaningful and reasonable policies and guidelines for employees and respond appropriately and legally to social media issues that arise. Below are a few of the discrete issues …

5. Financial Services

Quest IRA, Inc. Develops New Interactive Website & Social Media Campaign
Equities.com

The trick for us is trying to provide legally correct information, in such a way that is easy to understand, to the American public so that investors truly understand their options with retirement savings.” “Internet, the online experience and social media are the 21st Century.”

The New Social Metrics
Bank Technology News

Below are methodologies and metrics for determining the ROI of these specific social media use cases. The metrics roll up to three major categories of benefits: revenue impact, operational efficiencies, and legal and compliance risk avoidance.

David M. Adler, Esq. is an attorney, author, educator, entrepreneur and partner with Leavens, Strand, Glover & Adler, LLC, a boutique law firm in Chicago, Illinois created with a specific mission: provide businesses with a competitive advantage by enabling them to leverage their intangible assets and creative content in order to drive innovation and increase overall business value.

We meet this challenge by providing legal counsel on issues related to creation, protection and commercialization of intangible assets, our comprehensive understating of the relevant law, our team of seasoned professionals and our client service philosophy.

Advertising, Branding, Cloud, cloud computing, Compliance, Computing, Content Development, Data, data privacy, enterprise, Entrepreneurs, Finance, Internet, Legislation, Litigation, Marketing, Media, Networks, Platforms, Privacy, Regulation, Regulatory Compliance, Security, Social Media, Technology

Managing Compliance Obligations For Electronic Communications

Financial Services is one of the most heavily regulated industries. As electronic communications devices and platforms proliferate, message retention and oversight is a top priority for many compliance officers. A recent survey of compliance professionals in the financial services industry identified the following key issues:

    Firms are working smarter, not harder to manage the growing compliance burden.

As the types of messages that Financial services firms are required to monitor and store continue to increase, firms are re-evaluating and updating supervision and retention procedures. Key areas of compliance concerns are

    New regulations
    New communications channels (e.g. social media, text messaging)
    New communications devices (e.g. smartphones and tablets)
    Increased scrutiny/enforcement by regulators
    Inefficiencies of the supervision process
    Mobile devices and communications are emerging as a top concern.

Like many other industries, Financial Services firms are facing the “Bring Your Own Device” (BYOD) challenge: growing use of smartphones and tablets as well as adoption of mobile-specific communications like text messaging. This presents a challenge to conventional compliance practices which has not gone unnoticed by regulators. Last year, FINRA issued Regulatory Notice 11-39, stating that firms are required to retain, retrieve and supervise business communications regardless of whether they are conducted from a work-issued device or a personal device. This presents a challenge to companies that must separate business and personal communications in order to ensure regulatory compliance.

    Social Media and other online communication channels present new concerns.

Use of Social Media is on the rise in the Financial Services industry. However, policies and procedures for supervision and retention lag behind the pace of adoption. In terms of the most requested message types during examination! Email was first, followed by Website pages (including
RSS feeds, blogs, wikis) with Bloomberg or Reuters messages and instant messages ( tied for third place.

Conclusion

While regulatory examiners are increasing their oversight and moving from a check-the-box approach to compliance to scrutiny of the messages themselves, financial services firms are getting more savvy about their approach to compliance. In addition, as the opportunities for new types and channels of electronic communications increase, so too are the archiving and supervision technologies allowing firms use of these emerging communication tools with a greater sense of security.

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World Social Media Legal News Roundup

Law professor says social media can pose legal problems in Courtroom
Winnipeg Free Press
SASKATOON – The dean of law at the University of Saskatchewan says using social media can have negative consequences in the Courtroom – Business – Winnipeg Free Press.

Eight Ways Your Employee Social-Media Policy May Violate Federal law
AdAge.com (blog)
All employees have certain rights under federal law that social-media policies can’t restrict.

New Law to Force Identification of Trolls Set to be Unveiled
Technorati
Home / Social Media / Articles / New Law to Force Identification of Troll. … is behind the attacks on them online without having to resort to expensive legal action.

A blue wave of change Cleveland County law enforcers join move toward social media alerts
Norman Transcript
Lauri Stevens, a social media strategist at LAwS Communications, a Boston-area company, said law enforcement agencies nationwide are beginning to embrace social media.

Social media helped, hurt in hunt for suspect in triple shooting
Washington Post
Social media at times was a help, other times a hindrance in the search and eventual arrest of a suspect in the triple fatal shooting at an Alabama apartment complex.

Use social media, but use it responsibly, UAE conference hears
gulfnews.com
He said, “We do not monitor social media networks. People have the freedom to speak within the legal framework. There is no law specifically for twitter, but …

Police: Street gangs embrace social media, too
Kansas.com
Beard gave a presentation on gangs, the Internet and social media at last week’s Midwest Law Enforcement Conference on Gangs and Drugs, held in Wichita.

And…don’t forget to check out my presentation on the Law & Social Data panel at #TechWeek Chicago 2012.

The past few years have witnessed an explosion of legal and regulatory activity involving social and other new media. This session will examine several key areas, including copyright, trademark and related intellectual property concerns; defamation, obscenity and related liability; false advertising and marketing restrictions; gaming; data privacy issues presented by social media; and impacts of social media on employees and the workplace. Attendees will learn how to identify legal risks and issues before they become full-scale emergencies and how to develop appropriate policies and guidelines covering social media activity.

If you can’t make it, check out the Slideshare presentation here.