The MSRB requested comments on draft Frequently Asked Questions ("draft FAQs") for municipal advisors and municipal securities dealers (collectively, "MSRB firms") on the use of social media. Comments on the draft FAQs must be submitted by September 14, 2018.
During the rulemaking process for MSRB Rule G-21 and MSRB Rule G-40 (see previous coverage), MSRB firms asked for additional guidance on the use of social media under those rules. The draft FAQs address, among other things, when social media posts are subject to the MSRB's advertising rules and how firms can comply with such rules.
The MSRB requested comments on whether it should:
- address additional questions relating to the use of social media;
- provide separate guidance for dealers and municipal advisors under Rules G-21 and G-40, respectively;
- amend certain MSRB rules, instead of issuing guidance, to address social media usage; and
- issue guidance or amend rules with regard to the supervision of social media.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
