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SEC Approves Advisers’ Use of Social Media Reviews

Regulators give OK as long as both positive and negative comments are included.

By Michelle A. Samaad | Updated on April 09, 2014

Investment advisers can now publish consumer reviews of their services on their websites and social media channels provided both positive and negative comments are included, the SEC said.

Under the guidance issued by the SEC’s Division of Investment Management, in certain circumstances, an investment adviser’s or investment advisory representative’s publication of all of the testimonials about them from an independent social media site on their own social media site or website would not violate the testimonial rule within the Investment Advisers Act of 1940.

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