Our San Francisco colleague Murray Indick has just written about new guidance from the SEC’s Investment Management Division about whether certain interactive content posted on social media should be filed publicly by a mutual fund. As Murray notes, the guidance provides real life examples of the types of communications that the Staff believes would cause mutual funds and other investment companies to file materials on their social media sites with FINRA out of an abundance of caution. This is yet another example of the significance social media plays in today’s society and how regulators attempt to account for it in their guidance to companies.