Massachusetts is looking into the social media practices of investment advisers who work in the state. A recent survey conducted by the Securities Division of the State Secretary found that many of them are not complying with regulations that govern the use of social media to communicate with investors and require supervisors to monitor it.
According to the report, 69 percent of investment advisers that use social media have no written record retention policies for social media content, and 57 percent didn’t retain all online content posted by the firm.
