Partner Robert deBrauwere Quoted in Press Release Announcing "CMP.LY4Finance," A Disclosure Solution Enabling Unprecedented Social Media Engagement for the Financial Services Industry
The new code, CMP.LY/F, was unveiled this morning at a gathering of thought leaders spanning legal and marketing functions from renowned financial services institutions. Hosted by the law firm Pryor Cashman LLP and part of Internet Week New York, today's discussion covered how financial services companies can tap into the social media revolution without risking their reputation or bottom line.
Robert J. deBrauwere, Partner at Pryor Cashman LLP, provided insight into the rules and regulations governing social media communications while Chernaik briefed the industry on solutions.
According to deBrauwere, who is experienced in digital and social media compliance at the firm, "Social media has presented real challenges for financial services companies. The significance of the CMP.LY solution is that it is the first solution to address the substance of communications once they leave the company's walled garden, rather than, for example, the mere act of recording and archiving those communications. This has been the missing piece to date. Middleware solutions have been an important first step for regulated industries to gain access to social media, but these tools do not address the challenges inherent in making dynamic disclosures in two-way communication channels. CMP.LY4Finance enables financial services companies to employ disclosure protocols based on risk-based principles that allow employees to take greater advantage of social media platforms including the ability to interact and respond to their customers and prospects through these channels. Until today, this had been viewed as an insurmountable challenge without a simple, elegant solution."
To read the entire press release, please click here.
