Contact: Paige Ward
General Counsel & Vice-President, Policy
August 19, 2013
For Distribution to Relevant Parties within yoour Firm
Guidance on Social Media
In April 2013, MFDA staff issued the MFDA Annual Product Questionnaire requesting
information from Members on various aspects of their businesses. The Questionnaire included
questions on whether Members permit the use of social media for business purposes.
The results of the Questionnaire indicated that the majority of Members do not permit the use of
social media for business purposes and, as a result, do not have policies and procedures relating
to its usage. Many Members, however, permit the use of social media for business purposes and
have established related policies and procedures.
MFDA staff has reviewed the policies and procedures provided byy Members, and is currently
drafting social media related guidance. This guidance will include suggested best practices to
assist Members in developing compliant policies and procedures with respect to the use of social
media for business purposes.
MFDA staff advises Members that do not permit Approved Persons to use social media for
business purposes to have policies and procedures specifically addressing such a position and to
ensure that it is appropriately communicated to Approvedd Persons.
If you have any questions or comments on the use of social media or have any topics you would
like included in the MFDA staff guidance, please contact Paige Ward, General Counsel & Vice-