Archive for February, 2011
Keep It Simple, Stupid
Posted by nleong in Application Filtering, Compliance, Employee Behavior, Enterprise 2.0, Enterprise IM, Malware, Unified Communications on February 24, 2011
We’ve all heard this saying before and it’s easy to get lost in the bewildering array of communications channels available to us. There’s the usual email, instant messaging networks (Yahoo!, Google Talk), peer-to-peer networks (Skype), enterprise IM applications (IBM Sametime, Microsoft Lync/OCS), and social networks (Facebook, Twitter). And these are just the big boys. There are literally thousands of IM, P2P, and social networks, in addition to those listed above.
To give you an idea of the bevy of tools out there, the US Department of Agriculture (USDA) uses over 21 different email systems, but they’ve recently decided to award Microsoft a contract to provide cloud-based email, Web conferencing, IM, and collaboration solutions. Similarly, the US General Services Administration (GSA) awarded an email contract to Google. What this goes to show is that messaging in large organizations (in this case, it’s the government) is starting to move to the cloud as companies look for ways to streamline their messaging systems, improve efficiency, and cut costs.
What with all these communications options available to end users, it’s all too common for folks to use Facebook, Yahoo!, or Skype while they’re at work on company-issued computers. Oftentimes, individuals use a combination of Web 2.0 (think Facebook or Skype) and enterprise (think Microsoft Communicator or Cisco Jabber) applications. The problem with doing so is that it opens up new vectors for malware to invade the corporate network. In other words, there are far more avenues for evil to infiltrate the corporate network these days than ever before.
Thankfully, platforms like Actiance Vantage make it easier to manage the proliferation of communications tools within the enterprise. From blocking virus attacks to managing file transfers to logging and archiving of all IM activities, Vantages provides end-to-end security and compliance coverage for an organization’s unified communications.
We can all learn a lesson from the government contracts cited above. Long ridiculed for being the poster child of bureaucracy and antiquated computer systems, it must be saying something to have two large agencies moving their communications applications to the cloud. Looks like the US government has taken heed of that old KISS principle after all.
The Watchdog Is on the Prowl
Posted by SarahActiance in Compliance, FINRA, Social Networking, Web 2.0 on February 17, 2011
Whoever thought that government regulatory bodies were out of touch in our 2.0 world, best reconsider their position. The Securities and Exchange Commission (SEC) has begun to issue letters, asking investment advisors for details on their use of social media. The request is quite broad, covering documentation on messages, posts, tweets, blogs, record retention policies, and even how the firm in question treats the personal use of social media while on the corporate clock.
The goal ostensibly is to get a better understanding of how social media is being used within the financial services community. Every man and his dog knows social media is a hot topic these days, and the SEC is all too aware that the phenomenon has infiltrated broker-dealer and investment advisory firms as well. Financial advisors are keen to use social media to prospect for new customers, strengthen ties with existing clients, and to market new products and services. However, these communications between financial advisors and their clients are subject to regulatory scrutiny.
In January 2010, the Financial Industry Regulatory Authority (FINRA) issued Regulatory Notice 10-06, which was specifically written for social media. It spells out the guidelines securities firms must follow when communicating with clients. Reflecting the speed at which social media moves, FINRA already has plans to issue updated guidance later this year, conceding that many things they observed in 2010 were unexpected (e.g., at the time of original publication, brokers were not using social media for business communications). Such a miscalculation on FINRA’s part has forced it to revamp the guidelines.
And, it’s not just the US that is adopting measures to address social media. The Financial Services Authority (FSA) in the UK requires that appropriate risk warnings be given when social media is used for advertising purposes. Hand in hand with the increased regulatory interest in social media is the emergence of technology vendors stepping in to help firms remain compliant with these guidelines.
Here at Actiance, we’ve developed the industry’s most robust platform for managing and securing social media use within the enterprise. Our Socialite platform enables organizations to moderate, log, and archive all activities and content posted to Facebook, LinkedIn, and Twitter. In this way, financial services firms can rest assured that their communications with clients and prospects do not run afoul of any FINRA or FSA regulations.
Actiance is at the forefront of managing social media within financial services firms and will be providing guidance at headline Finextra events in London and New York over the coming months to share a best practice approach on coping with the regulatory guidelines.
