Social Media and Financial Services – time to open up?

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  • Technically it could be considered that the FSA has already included social media since most of its regulation documents refer to "electronic communications". However as you mention, the financial promotions directive and now the mortgage market review clearly point out social media is included under this banner. But whilst policy needs to be addressed, it is just as important that companies understand how social media integrates into their wider business objectives. After all, people follow people rather than brands (the concept of "the personal brand") and that target audience needs to be maintained, recorded and retrieved long after any single social site has reached the end of its life.

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