New York, NY, April 26, 2013 --(PR.com
)-- The Knowledge Group/The Knowledge Congress Live Webcast Series, the leading producer of regulatory focused webcasts, has announced today that Alex Cheng, Policy Analyst, FDIC will speak at the Knowledge Congress’ webcast entitled: "Emerging Issues: Social Media Guidelines for Banks and Financial Institutions Explored." This event is scheduled for July 19, 2013 from 12:00pm – 2:00pm (ET).
For further details, please visit: http://www.knowledgecongress.org/event_2013_Social_Media_Guidelines.html
Social media has become an important game-changing marketing tool for businesses across industries. Banks and financial institutions are no exemption to this growing trend. The social media explosion has compelled banks and financial institutions to interact with their social media savvy clients and would-be customers in ways not previously possible. Recognizing the risks associated with the use of social media as a powerful and effective marketing method, the Federal Financial Institutions of Examination Council (FFIEC) recently issued proposed guidance on social media use by banks, savings associations, credit unions and other non-bank entities supervised by the CFPB and other state regulators. FINRA and the SEC have also issued guidance on regulating how broker-dealers, investment advisers and their personnel use social media for business purposes. All of this guidance is aimed at ensuring that banks and financial institutions’ social media efforts (advertising, promotions and brand awareness) are in compliance with existing federal consumer protection and securities laws, regulations and policies, and rules of self-regulatory organizations, whilst minimizing legal, reputation and operational risks by establishing a robust risk management program.
As banks and financial institutions continuously embrace and rely upon the use of social media to promote their products and services and attract new customers, finance executives, marketing officers and compliance personnel must have a complete understanding of the FFIEC’s, the SEC’s and FINRA’s guidance and its potential impact on their businesses and customer base. In a two-hour LIVE webcast, a panel of thought leaders and industry experts organized by The Knowledge Group will explore the significant topics surrounding this emerging issue. They will offer substantive discussion on the following:
• Overview of the Guidance from the FFIEC and Related Consumer Protection and Compliance Laws and Regulations
• Overview of the Guidance from FINRA and the SEC and Related Compliance Laws and Regulations
• How to Create an Appropriate Social Media Policy
• Effective Ways to Identify and Monitor Risks and
• Developing a Robust Risk Management Program
• Other Regulatory Updates
About Alex Cheng
Alex Cheng is a Policy Analyst in the Supervisory Policy Branch of the FDIC’s Division of Depositor and Consumer Protection. Since joining the FDIC in 2011, he has worked on a wide variety consumer protection and economic inclusion issues, including access to banking services, mobile financial services, prepaid products, fair lending, overdrafts, and flood insurance. Prior to joining the FDIC, Alex served as a legal intern at the D.C. Superior Court, U.S. Department of Justice, and the Department of Housing and Urban Development.
Alex received his B.A. in Political Science and Psychology from Purdue University and his J.D. from American University’s Washington College of Law, where he served as Senior Articles Editor for the Human Rights Brief. He is a member of the Illinois Bar and the Asian Pacific American Bar Association of DC.
About The Knowledge Group, LLC/The Knowledge Congress Live Webcast Series
The Knowledge Congress was established with the mission to produce unbiased, objective, and educational live webinars that examine industry trends and regulatory changes from a variety of different perspectives. The goal is to deliver a unique multilevel analysis of an important issue affecting business in a highly focused format. To contact or register to an event, please visit: www.knowledgecongress.org