Tick box approach to social media compliance 'threatens financial firms'

Research from compliance firm Smarsh UK found financial services firms do not have adequate archiving and supervision systems in place to manage compliance obligations relating to the "retention and oversight of electronic communications". It said this included obligations recently outlined by the Financial Conduct Authority (FCA) in its social media final guidance. The 2015 UK Electronic Communications Compliance Report, which surveyed more than 100 people working in financial services compliance, said while firms have got on board with social media many are struggling to set up adeq...