The problem of course is at the top. When companies are being managed by old fogies who have trouble sending email or text messages, how can they possibly comprehend this world wide intermenetty thing? And anyway, wasn't it invented by some nasty tax raising, big government spending Democrat? No thanks! When's lunch? Do we have time for an aperitif? What about golf afterwards?
My argument for a very long time has been that there is no real legal impediment for financial services firms to say pretty much whatever they like on social media. It's just that nowadays we have a growing monster in the middle-office called compliance who sees everything as a risk. If there's one thing that gets the pulse of a compliance officer to do the quick step and send the blood down south it is the subject of risks. Risks arouse a compliance officer like a Louis Vuitton shop arouses a Russian oligarch's 18-year-old mistress.
If compliance departments could have their way a bank would have no logos, no phones, no internet access and no staff (apart from the compliance department and a management to report to).
- Is Walter promoting drinking?
- What if someone under the age of 18 sees the tweet?
- What if someone in the US where the drinking age is over 21 sees the tweet?
- What if someone in Saudi Arabia sees the tweet?
- What if Walter could be seen as an alcoholic?
- What will Health and Safety say?
- Walter is tweeting while on his holiday. What will the union say?
- Are we infringing on the wine producers copyright by showing the tweet?
- Are we promoting the French by allowing the tweet? I hate the French.
- Mrs. Worminson is a babe, are we exploiting women by allowing the tweet?
- How did Walter ever manage to pull Mrs. Worminson?
- Maybe I should get Mrs. Worminson's approval for the picture?
- I wonder if there are anymore pictures of Mrs. Worminson?
- Was there a beach where they were holidaying?
- Anyone got Mrs. Worminson's number?
If you work in financial services it's worth going through the slides twice. Because as sure as a banker likes big German cars and expensive Swiss watches you can be sure that industry wide social media guidelines are coming to a jurisdiction near you very soon (if for no other reason than to generate substantial revenue for consultant firms).