CMP.LY Announces "CMP.LY4Finance" - A Disclosure Solution Enabling Unprecedented Social Media Engagement for the Financial Services Industry

NEW YORK, June 8, 2011 /PRNewswire/ -- CMP.LY, the first and only provider of commercial disclosure compliance solutions for social media, announces "CMP.LY4Finance." A new solution specifically tailored for the financial services industry that tackles the regulatory compliance and disclosure challenges that have been a barrier to social media for financial services companies. CMP.LY4Finance provides dynamic disclosure codes that are supported by a robust compliance management tool.  It specifically addresses financial services disclosure and compliance requirements under SEC and FINRA guidelines and extends CMP.LY's universal Iconic Compliance framework of coded URLs and badges.  CMP.LY4Finance uses the newly announced CMP.LY/F disclosure code that at once indicates to consumers a disclosure related to a message as they view it, and provides linked access to complete disclosure details. CMP.LY4Finance is the first solution since the advent of social media that provides financial services professionals the ability to fully and responsibly engage in social media.

CMP.LY/F codes debuted today through a partnership with StockTwits, the leading real-time financial idea network and community.  StockTwits is using CMP.LY/F codes to give investor relations professionals a simple way to make disclosures in social media communications as part of a new offering also released today. The full CMP.LY/F solution, which addresses key activities and functions including broker/dealer communications, investor relations, employee communications and other needs for "fine print" in social media communications, will be available to CMP.LY customers and partners later this summer.

According to Tom Chernaik, CEO of CMP.LY,  "We've spoken to a number of financial services professionals who have watched from the sidelines as the power of social media engagement grew exponentially for their less regulated counterparts.  Their concern about the inability to use these channels to connect with consumers and their strong desire to give their teams meaningful access to platforms such as Twitter, Facebook and LinkedIn was our impetus for creating this customized solution.  CMP.LY4Finance is an extension of the existing CMP.LY framework.  It meets the specific needs of this market with integrated auditing and compliance review functions. What we've created is a tool that allows these companies to advance past simple access and actually let employees, brokers, agents, and advisors participate in social media in a meaningful, organic way rather than with a pre-approved, canned type of interaction. Consumers expect dynamic communications on social media platforms, but need simple, consistent methods to identify content that requires disclosure or 'fine print.' It's all about authenticity and responsibility. CMP.LY4Finance provides both."

The new code, CMP.LY/F, was unveiled this morning at a gathering of thought leaders spanning legal and marketing functions from renowned financial services institutions.  Hosted by the law firm Pryor Cashman LLP and part of Internet Week New York, today's discussion covered how financial services companies can tap into the social media revolution without risking their reputation or bottom line.  Robert J. deBrauwere, Partner at Pryor Cashman LLP, provided insight into the rules and regulations governing social media communications while Chernaik briefed the industry on solutions.

According to deBrauwere, who specializes in digital and social media compliance at the firm, "Social media has presented real challenges for financial services companies. The significance of the CMP.LY solution is that it is the first solution to address the substance of communications once they leave the company's walled garden, rather than, for example, the mere act of recording and archiving those communications. This has been the missing piece to date. Middleware solutions have been an important first step for regulated industries to gain access to social media, but these tools do not address the challenges inherent in making dynamic disclosures in two-way communication channels. CMP.LY4Finance enables financial services companies to employ disclosure protocols based on risk-based principles that allow employees to take greater advantage of social media platforms including the ability to interact and respond to their customers and prospects through these channels. Until today, this had been viewed as an insurmountable challenge without a simple, elegant solution."

A replay broadcast of today's event is available at http://CMP.LY/060811event.

CMP.LY's mission is to protect consumers and lessen the regulatory burdens on businesses in order to create a fair, open and transparent marketplace.  CMP.LY provides a universally recognizable standard to communicate required disclosures and "fine print" across all platforms such as Facebook, Twitter, LinkedIn and blogs. The company's solutions, such as CMP.LY/F, use an iconic framework that is quickly becoming the recognized standard for social marketing disclosures. Purpose built to address regulatory compliance requirements, CMP.LY simplifies and manages the unique challenges faced by brands, agencies and now financial service representatives, as they activate and scale social marketing efforts. By using CMP.LY, companies of any size can leverage the power of social marketing channels and address disclosure requirements and scale efforts in an efficient, and cost effective way.

Gail K. Warner
President
GKW Communications, LLC
803.431.9252
[email protected]

SOURCE CMP.LY