On January 4, 2012, the SEC issued four pronouncements relating to social media, two of which focus specifically on the use of social media by investment advisers ("advisers"). The pronouncements come approximately one year after the SEC's Office of Compliance Inspections and Examinations ("OCIE") conducted its social media compliance sweep of advisers, and reflect the work of the SEC's Division of Enforcement, OCIE, and Office of Investor Education and Advocacy. Taken together, the pronouncements, as described below, represent a coordinated effort by different arms of the SEC to address investor protection concerns relating to social media.

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