Smarsh recently announced to its clients that they will no longer legally be allowed to Collect Data from an Organization’s Communication on Twitter.
Starting March 20th 2020 at 9am EST Smarsh will no longer be legally allowed to collect that data through archiving and searching Twitter communications. Twitter is suspending Smarsh’s ability to collect data on your company’s communication because it does not comply with their terms of service. Smarsh has been and still is working on resolving this issue and working to find a way to comply with Twitters Terms of Service.
What does that mean for you?
Should you be utilizing SMARSH for SEC & FINRA record-keeping compliance:
- Without additional action, you will be out of Compliance!
- Consider discontinuing the use of Smarsh
- Identify other vendors that may be able to archive Twitter
- Assign someone internally to maintain daily screenshots of your Twitter page
- To the extent possible, restrict communications on Twitter
For more updates and tips follow us on LinkedIn.
Feel free to contact us with any questions.
The Team at Vigilant