Prospera Financial Services, a Texas-based broker dealer, is now using SunGard’s Protegent Social Media Surveillance for regulatory compliance and to monitor its advisors’ online activity.
SunGard’s Protegent Social Media Surveillance will help Prospera monitor and archive activity and content posted to social networking websites such as Facebook, LinkedIn and Twitter. It will also help Prospera manage the supervisory and books and records requirements set forth by FINRA notice 10-06, which covers blogs and social networking sites, by utilizing tools for moderation and pre-approval of content that may be considered advertisement.
Marco Galvan, information technology manager at Prospera Financial Services, said, “SunGard’s Protegent Social Media Surveillance gives our compliance officers greater confidence in allowing our advisors to participate on social media sites and run their own websites because Protegent helps them monitor that activity and protect the firm from regulatory breech and reputational risk.”
Steve Sabin, chief operating officer of SunGard’s Protegent business unit, said, “SunGard’s Protegent Social Media Surveillance is helping customers like Prospera Financial Services establish and enforce internal social media usage policies, while also helping them mitigate risks and adhere to regulatory obligations.”