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CFO spills the beans.
This spring, Gene Morphis, CFO of women’s clothing retailer Francesca’s, tweeted from his personal account, a message that would cost him his job.
What went wrong: Regulated sectors, like publicly-traded companies, must abide by strict rules when communicating with stakeholders--even on social media. In this case, Morphis tweeted the results of a board meeting before they were officially made public--a big SEC no-no.
Solution: Employees must know rules governing communications. Regulators in many sectors require companies to archive all social messages up to three years, even posts sent from personal devices. Make sure your company has a compliance policy, and a social media management system with built-in archiving software in the event of an audit.