WIFS Ethics Summit 2012

1. Deborah Gonzalez, Esq.
WIFS Atlanta Ethics Seminar
April, 2012
deborah@law2sm.com

2. This presentation is for educational purposes
only and does not constitute legal advice. It
is recommended that you seek legal counsel
for specific matters.
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3. www.law2sm.com
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4. 4

5.  Why is it important to know this?
 What is Social Media?
 Social Media Platforms
 Why do those in IFS use Social Media?
 Rules/Guidelines
 The 5 D’s of Ethical Use of Social Media
 Q&A

6. There can be consequences…
Individuals have lost jobs, been disbarred, been
disciplined, lost cases, lost clients, lost
money, lost their reputation, lost their good
standing in their communities, etc., etc., etc.
For example…

9.  A communications channel?
 A communications method?
 A life-interpretation lens?
 A paradigm shift?
 Trouble?

10. http://www.youtube.com/w
atch?v=0eUeL3n7fDs

11.  Facebook
 Twitter
 YouTube
 LinkedIn
 Google +
 Pinterest

12. http://www.facebook.com/Law2sm

18.  Goals:
 Attract Clients - Marketing
 Establish a reputation/Showcase Expertise
 Drive traffic to website
 Get more media attention/speaking engagements
 Network & Build/maintain relationships

19.  Goals:
 Locate information to support your practice
 Competitive intelligence and customer feedback
 Branding
 Communication/Information distribution/sharing
amongst professionals
 Find a new position

20.  Social Media (Unwritten) Principles
 Transparency/Authenticity (credibility)
 Currency (what is important at this moment)
 Relevance (to who is reading)
 Influence not Numbers

21.  Federal/State Laws
 FTC – Revised Endorsement Guides
▪ http://business.ftc.gov/documents/bus71-ftcs-revised-
endorsement-guideswhat-people-are-asking
 SEC – An 4, 2012 Social Media Risk Alert
▪ http://www.sec.gov/about/offices/ocie/riskalert-
socialmedia.pdf

22.  FINRA – Regulatory Notice 10-06
 http://www.finra.org/web/groups/industry/@ip/@
reg/@notice/documents/notices/p120779.pdf
 NCIA – Adopted: Social Media Use in
Insurance
 http://www.naic.org/documents/committees_d_s
ocial_media_exposures_111201_whitepaper_draft
_social_media.pdf

23.  American Financial Group – Code of Ethics
 http://www.afginc.com/phoenix.zhtml?c=89330&
p=irol-govconduct

24.  Decision
 Disclosure
 Disclaimer
 Direction
 Documentation

25.  Decision
 Your Decision to put yourself on social media.
▪ FTC – Credential Fraud/False Advertising
▪ SM Policies, Procedures, Controls, Training

26.  Disclosure
 Who is sending posts/tweets? – Disclose
Affiliations
 Disclosure must be “clean and conspicuous”
 How is information used when sent in by a client?
Or gather via social media? (Open Graph)
 No fake reviews

27.  Disclaimer
 How should the forum be used
▪ Community Guidelines
 Privacy & Consumer Protection
▪ A single tweet can violate 17 Federal privacy laws and
over 88 state laws.

28.  Direction
 Supervision/Approval Requirements
 Monitoring Social Media Conversations
▪ Ad vs Editorial Content
▪ Static vs Interactive Content
▪ Company vs Agency
 Routing Communications
▪ Complaints

29.  Documentation
 Record Preservation
 Evidence

30.  Have a plan for using social media – it begins
with your goals. Do you even need to be
there?
 Budget/allocate resources for it – get
professional help when you need it.
 Learn about it –educational programs/books
should be part of the budget.
 Learn the rules/guidelines/policies of your
industry and your employer.

31.  Pick one and start there – LinkedIn is a good
first choice. Profiles are important and so is
your photo!
 Get in the habit of checking your social media
account(s) at a certain time every day or pick
one day a week. Be on a consistent schedule
that will not overburden you.
 Create a Google Alert for your name and your
company name.

32.  Put a time limit on your social media
activity. Practicing IFS and servicing
your clients is priority.
 Keep alert for updates on social media
and the IFS industry.

33. Social Media is…
Public
Permanent
Powerful

34. ???

35. Deborah Gonzalez, Esq.
deborah@law2sm.com
404-857-1331
www.law2sm.com
Twitter: @law2smdeborah
Facebook: Law2sm