The Securities and Exchange Commission recently requested information and public comment on matters related to the use of digital engagement practices by broker-dealers and investment advisers. The SEC defines digital engagement practices (DEPs) to include the following nine categories of practices purportedly engaged in by broker-dealers and investment advisers: (i) social networking tools, (ii) games, streaks and other contests with prizes, (iii) points, badges and leaderboards, (iv) notifications, (v) celebrations for trading, (vi) visual cues, (vii) ideas presented at order placement and other curated lists or features, (viii) subscriptions and membership tiers, and (ix) chatbots.
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In this webinar, hosted by the SIFMA Compliance & Legal Society, we explore whether these nine categories of practice require a new regulatory regime and how the existing framework addresses firms’ use of DEPs today.
Available to watch on demand through December 17, 2022. Registration is complimentary for SIFMA members and industry regulators; there is a $99 fee for non-members to participate.Â
Participants who pre-registered can access the on demand session; new participants should register now and will receive access instructions within three business days of registration.
SIFMA Comment Letter: SEC Request for Information and Comment on Digital Engagement Practices
SIFMA Press Release: SIFMA Response to SEC Request for Comment on Digital Engagement Practices
Used responsibly, DEPs provide significant benefits to retail investors, including enhanced access to customized products and services, lower costs, access to a broader range of products, better customer service, and improved compliance efforts leading to safer markets. Certain DEPs also raise potential risks, highlighting the need to ensure investor protection in connection with their use.
The existing, robust regulatory regime, however, amply addresses firms’ use of DEPs today, preserving their well-documented benefits, while appropriately managing potential risks.
SIFMA has been certified by the New York State Continuing Legal Education Board as an Accredited Provider of continuing legal education in the State of New York. This webinar will be eligible for New York State CLE Credit for non-transitional attorneys.
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Attendance must be certified by completing the affirmation form found on the webinar console immediately following the webinar; enter the CLE code word as provided by the moderator and email the form to SIFMA's C&L Society. Participants will receive CLE certificates for New York State within 60 days of the webinar; participants should self-file for CLE credit in other states. It is the responsibility of the registrant to comply with all rules and regulations governing the jurisdictions in which the attendee is seeking credit.
Registration fee reduction maybe available for qualified registrants; please view our hardship policy to learn more.
Contact SIFMA's C&L Society.
For detailed information, including technical requirements and FAQs, view our Webinar Tips.
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