From Firms
Q. Do I need to install technical software, or expand my IT team to use Codex?
A. No. Codex is an application-based social media compliance solution that is directly linked to a representative’s social media site, creating an impassable boundary for users logging in from any device.
Q. How long does it take for the Codex solution to become active?
A. In three steps, Codex can begin social media archiving. Firm’s must first purchase the application, then assign a social media policy and/or template, and finally designate an archival destination. On the side of the representative, he or she must allow access for the Codex application to begin archiving their site, and within one hour of registration a representative’s activity will be archived for compliance.
Q. What browsers and social media accessible devices are with compatible with Codex?
A. As an application that is directly linked within social media accounts, all browsers on Internet accessible devices are compatible with Codex, including cell phones, laptops, and tablets.
Q. How do you receive all of our representatives’ social media content?
A. Codex is integrated within the social media channels allowing us to capture a complete snapshot of all representative activity. Once a representative installs the application, Quest CE will have full access to the Facebook, LinkedIn and Twitter accounts activated.
Q. What if my representative uninstalls the Codex application on their social media accounts?
A. Codex provides real time notification updates to compliance officers of any application changes or deletions. If a representative changes Codex access or deletes the application, firms will be informed of the change, and the representative will continuously receive automated emails requesting the Codex reinstallation. Once reinstalled to the representative’s social media accounts, Codex will capture and archive the activity missed on that account while uninstalled.
Q. Is preapproval required for all of my of representative’s activity?
A. FINRA regulation only requires that static or non-interactive communication be preapproved. Interactive communications about business from registered representatives, and therefore does not need to be approved by a compliance officer before entering the web.
Q. What is the standard preapproval process?
A. Before registered representatives can use the Codex application, they must review the social media policy and template they are given, and sign an attestation that they will abide by both. Codex allows firms to upload their own social media policy and/or template or use the Quest CE policy and template provided. Codex pre-approval protects firms from FINRA liability if a representative displays noncompliance with their social media policy after attestation.
Q. Where is the information archived?
A. Codex allows firms to have archiving data sent directly to their FINRA required archiving email in an easy to read Excel & XML format. Quest CE’s standardized archive layout is compatible with all current email archiving solutions and can be seamlessly integrated into your system.
Q. Do you use any of our archived information?
A. The information gathered from Codex is confidential to each individual firm. Information is directly sent to the firms designated email inbox and is not shared with any third parties. Archived date is for firms regulatory social media compliancy needs only unless requested otherwise by compliance officers or the firm itself.
Q. What if I wanted to archive my company website or blog?
A. Quest CE’s Codex has additional functionality when social media archiving compliance is partnered with our website and blog archiving. The website and blog archiving functionality employs a cutting-edge web crawler that captures dynamic links including html and cascading style sheets, allowing you to view your web site or blog and see an unchanged snapshot from a date of your choosing. Like the entire Codex suite, data collected is sent directly to your email archival system.
Q. Because social media regulation and policy are fairly new to the financial industry, can you aid my firm in helping my representatives understand social media compliancy?
A. Quest CE supports your firm’s push towards complete compliancy by providing industry authored representative and supervisory training. Firms can choose from our wide selection of courses from our Social Media, Blogs and Websites Firm Element content or if a firm has their own idea for learning materials, Quest CE can author custom course materials. Our newest course, Social Media: Communications with the Public in an Electronic Environment, covers:
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- Categories of Electronic Communications with the Public,
- FINRA Rules, and
- Electronic Communications Compliance Issues
Q. Can you help me identify if my representatives are disclosing all of their social media accounts and/or activating additional accounts?
A. Codex’s value-add Annual Social Media Representative Survey allows firms to poll their registered representative population to prove to FINRA they have a handle on who is and who is not in compliance with their social media policy. Once the survey is complete, compliance officers will be able to compare the numbers to their filed attestations and evaluate who is not following compliance regulation.
Q. Will Quest CE provides Codex customer support for my staff and representatives?
A. Quest CE will assign an account executive to all firms. Representative or staff members can call, chat, or use or 24 hour email support to address any of their questions regarding Codex.
Q. How accessible is the Codex Social Media Compliance Solution?
A. Codex is different from any other Social Media Compliance Solution on the market, because it is the first complete solution including preapproval, social media archiving, website and blog archiving, social media training, and an annual compliance survey in one centralized dashboard.
From Representatives
Q. If I am using Codex, am I in compliance?
A. Codex ensures that you are in compliance with FINRA regulation if you follow the social media policy enacted by your firm, and allow the necessary application access.
Q. Can I continue to use my current social media accounts or do I have to create new ones?
A. There is no need to create new accounts. Codex works directly with your active social media accounts.
Q. What If I limit Codex’s accessibility to my account or uninstall it?
A. If you decide to limit the Codex application’s accessibility to your social media accounts, your firm will receive a notification, and you will be repeatedly sent automated emails requesting you reinstall Codex. Once Codex is reinstalled and granted the necessary social media accessibility, it will capture and archive the activity missed on your account during the archiving downtime.
Q. If I have the Codex application, can I communicate on my social media accounts from any social media device, or only my work computer?
A. Codex as an application-based solution captures a complete snapshot of your activities regardless if you post, comment, etc. from your mobile phone, tablet, laptop, or home desktop computer.
