Regulations on data retention restrict the ways in which US asset managers can use social media to communicate with clients , according to Abigail Johnson , CEO of Fidelity Investments . Consumers expect instant interaction with service - provider companies , but regulations requiring communications to take place in a non - rewritable and non - erasable format has proved an issue for financial services firms , said Johnson . Individuals employed by asset managers with the appropriate training should be allowed to use social media with greater freedom , she said .
Regulations on data retention restrict the ways in which US asset managers can use social media to interact with clients, according to Abigail Johnson, chairman of Fidelity Investments. Consumers expect instant interaction with service-oriented companies, but regulations requiring communications to take place in a non-rewritable and non-erasable format has proved an obstacle for financial service firms, said Johnson. Individuals employed by asset managers with the appropriate training should be allowed to use social media with greater freedom, she said.