Rick Ketchum knows that just about everyone in the business is "struggling" to figure out how to interact with clients and prospects through social media without crossing the lines.
He promises that guidance on everything from linking to third-party websites to capturing all activity on mobile devices will be coming by the end of the year -- although another FINRA executive, Joseph Price, says the new rules could hit the SEC in a few weeks.
Price goes into a lot more detail. As he points out, the new social media code of conduct won't change anything that broker-dealers are currently working with, but will only extend the information advisors already have.
In fact, he says the new rules will be drafted question-and-answer style, in the grand tradition of online Frequently Asked Question lists.