Tweets Land Professional in Hot WaterNovember 14, 2014 – In The News
Joshua Horn was quoted in the Law Technology News article, “Tweets Land Professional in Hot Water.” Full text can be found in the November 12, 2014, issue, but a synopsis is below.
Fox attorney Joshua Horn explained that social media is a great resource for marketing and business development, but not for a registered representative who was recently sanctioned by the Financial Industry Regulatory Authority.
The tweets that got the representative in trouble date back to 2009 and referenced a stock the representative had not disclosed that he owned, said Horn who also noted that the tweets were also not factually sound. The representative was fined $15,000 and suspended for 10 days.
The sanction was a “slap on the wrist,” Horn stated, but continued that the action demonstrates FINRA is taking its time to go after those it deems to be defaulting on social media.
“If you tweeted a few years ago, you may still be subject to a FINRA review,” he cautioned. To avoid penalties you should check firm policies, run content by the marketing department and use your gut. “Believe it or not the ‘if it feels wrong it is wrong’ test does work,” said Horn.