A financial services industry group recently released guidance on managing the risks associated with using social media such as Facebook and Twitter. The guidance, titled “Social Media Risks and Mitigation,” was released this week by BITS, a division of the Financial Services Roundtable, which represents 100 of the largest financial services companies. The guidance includes tips on managing numerous concerns specific to financial institutions, which are increasingly using social media in their marketing and customer relationship activities.
The UK’s data protection authority, the ICO, has issued a code of practice for online privacy. Although only advisory in nature, the code contains excellent information on what are viewed as “best practices” in the protection of personal privacy online. It should be of particular interest to businesses engaged in behavioural advertising, online sales and cloud computing. This blog entry summarizes and links to the code.