On January 10, 2011, I made ten predictions for 2011 regarding social media and the law. Now it is time to evaluate my ability to read the tea leaves in social media and the law. On December 28, 2011, I analyzed the first five of my ten predictions. Four out of my first five predictions have been realized and the one prediction that has not yet come to fruition may be realized within the next couple of months. Below were my second five predictions for 2011.
6. Regulated industries such as banking and finance, pharma, etc...will continue refining their approach to regulating social media usage. During the year, FINRA, the Financial Industry Regulation Authority provided more guidance on how brokers may utilize social media in their professional environment.
7. Federal and state governments will determine what official government social media records need to be retained. During the year, federal agencies created best practices for social media record retention.
8. Homeland Security, the CIA, FBI, NSA, U.S. Armed Forces, etc... will need re-evaluate their social media policies and determine what they allow their employees to post online. During the year, Homeland Security stated that it was reviewing its social media policies.
9. Cyberbulling, Privacy, Defamation, and First Amendment issues will become further intertwined and a rational legal framework will need to be created to address these matters. During the year, Connecticut passed a new cyberullying law and New York also discussed updating its bullying laws to account for the Social Media Age.
10. Social Media Credential Fraud will continue to increase as more people will try to create the perception that they are experts in their professional field due to their social media activity. Fraud in the social media space is a huge problem and during the year the National Advertising Division of the Better Business Bureau came out strongly against Like-Gating which may be another name for Social Media Credential Fraud.
For 2011, 9 of my 10 ten predictions came true and the other prediction will eventually come true because the issue is too important not to be resolved within the next year or two.
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