It’s been a good week for tea-leaf readers attempting to piece together the future of social media regulation for FINRA-related entities.

At this writing, at least two articles have appeared with some interesting detail on what was said Tuesday at the Insured Retirement Institute’s (IRI) regulatory conference in Washington. Check out:

  • FINRA Prepares New Social Media Guidance for BDs is AdvisorOne’s coverage of “Social Media–The Latest Word,” a session with Joseph Price, senior VP for advertising regulation/corporate financing at FINRA, and Mitchell Bompey, executive director, legal and compliance at Morgan Stanley Smith Barney.

According to the article, Price said the additional guidance being prepared (to build on FINRA Regulatory Notice 10-06) would not upend social media systems that have been developed. The guidance is being reviewed by senior staff at FINRA and will be sent to the SEC in the “next week or two.”

(As an aside, I take issue with the reporter’s characterization of Morgan Stanley as having “pioneered the concept of allowing its advisors to use social media.” Cambridge Investment Research staked that claim exactly one year ago and others’ pilots went public before Morgan Stanley. When the history is written about how social media enabled advisors to became more authentic and relevant to their clients, we’re going to want to have the facts straight.)

But we’re partial to tweets here on AdvisorTweets.com, and the tweets made by conference attendees onsite using #GLRC2011 were especially intriguing. I’ve selected a few of them below. Thanks to the BGK Group Twitter accounts and to @jbreitfelder, whose re-tweeting some of these today pointed out the value of the hashtag. I hadn’t followed it in real-time.

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