Chad Bockius, CEO of Socialware, reviewed regulatory efforts in a posting earlier this year.

FORBES: Implementing Social Media in Finance -- Carefully

Bockius said that static data which will be posted on a site needs to be approved before it goes out.

FORBES: Financial Advisors Turn to Tech for Compliant Social Media Activity

Firms face higher fines if they have done nothing than if they can show they have a compliant social media policy, said Bockius.

FORBES: Financial Advisors Turn to Tech for Compliant Social Media Activity