Finra Seeking Feedback on Social Media’s Influence on Investing

Good afternoon - I have been employed in the financial advisory business going on forty years. What I have seen on-line and in commercials at times appears mis-leading and am surprised the agency overseeing these (perhaps the SEC?) are allowing them to continue sharing things that I feel are not helpful to investors comments. Some of the "newer" companies have comments on social media and/or commercials that are not realistic or misleading. Encouraging investing is what I feel are in careless ways. Granted, an adult should be aware of "buyer beware" when investing, yet when ads come from knowable sources, they may confuse and actually "bait" less experienced investors to act on what they are providing. Even if it is not prudent.

I am not a "head in the sand" advisor and feel there have been many new ideas and companies that add value to investors. However, the "wild west" nature on social media and web sites, etc. are pervasive and it feel as if the regulators / agencies that oversee our world have too much on their hands to get to so many. Perhaps, finding a few of the more egregious players chumming questionable advice or comments could be reprimanded to send a message that there are consequences when you tell folks watching things that are not quite or actually good advice or suggestions. Just a thought to share once I saw this was open for comments. Best of luck keeping the bad players and border-line bad ones on their toes. It is important work!