The FBI is keeping a close watch on Twitter and Facebook, looking for instances of security fraud. The increased interest is all part of an on-going crack down on insider trading in the hedge fund industry. For more information read the article, “FBI Sees Facebook, Twitter as Breeding Ground for Security Fraud”, from Reuters.
California’s new social media privacy law, which passed last month but is still pending signing into effect, may be a boon for employers and employees alike unless you look at the financial industry. The new law would help to protect individuals’ privacy and protect employers from liability. Matt Williams provides some insight into the benefits in his article “California Ramps Up Social Media Policy.”
Dan Jameson provides insight into the potential pitfalls that the law could pose in the securities industry and other financial industries: “Privacy Laws Threaten Compliance.”