ARLINGTON, VA. -- As the SEC contemplates a framework for how advisors can incorporate online social tools into their practice, many of the established principles concerning compliance, record-keeping and anti-fraud will hold steady in the era of new media, according to a senior commission attorney.

Melissa Gainor, senior counsel at the SEC's Investment Adviser Regulation Office, explained that the commission isn't envisioning a complete rewrite of its rules to account for the increasing use of social media within advisory practices. In remarks during a panel discussion at the Investment Adviser Association's compliance conference, Gainor explained that advisors will be expected to keep records about the content they post on social sites just as they do with other materials on traditional channels.

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