Let’s be honest – the intricacies of the 2,300 page Restoring Financial Stability Act are challenging to digest. Even as a financial public relations professional, the task of tracking the ongoing developments of the financial reform while also developing strategic thought leadership for our spokespeople has been daunting – to say the least. However, the need to work closely with spokespeople to help translate their insights on complex financial issues into comprehensible, interesting and differentiating thought leadership is exactly what makes financial services public relations rewarding.
Yesterday, FINRA released guidance that attempts to clarify rules for securities firms and brokers about using social media websites when communicating with the public. Check out the guidelines here. Overall, these guidelines are a good thing for financial advisors. They provide a baseline of rules for anyone under the purview of FINRA to get their feet wet in social media.
Brian Moynihan is the new CEO of Bank of America. At least for the next few months, eyes will be on him to see what moves he makes as he puts on Ken Lewis’ big shoes.
Moynihan is 50. With a good decade or so in the job, assuming he can keep it that long, he will have an enormous impact. It’s as if 2008-2009 were banking’s “ground zero,” and he has the opportunity to steer not just BofA, but the financial services industry into the post-crisis future. At the moment, it seems like the only way he can go is up.
I wish my grandmother were still alive to see it.
There it was, on the right hand side of the “c” section on Wednesday morning – yes, some of us still read the Wall Street Journal in paper form – an apology of wrongdoing and a commitment of time and funds by Goldman Sachs in an attempt to repair some of the damage.