The way financial services companies use social media is being highlighted by public relations consultants in the light of guidance published by the UK Financial Conduct Authority.

And the Guernsey Financial Services Commission is to make a move in this area following discussions with the Channel Islands branch of the Chartered Institute of Public Relations.

The GFSC will take the FCA advice and link to it from its own website.

‘The commission has reviewed the latest guidance from the FCA, which was published within the last two weeks,’ said a spokesman.

‘It provides helpful and relevant information which local firms might wish to bear in mind, so the commission will shortly be signposting the guidance note on its website.’

The move has been welcomed by Adam Riddell, pictured above, chairman of the local CIPR branch, who believes local finance firms should be encouraged to adopt the guidelines.

‘These FCA guidelines have been under consultation in the UK for some time, so it’s welcome news that the Guernsey Financial Services Commission now intends to mirror those guidelines and make them accessible to assist local financial services firms,’ he said.

‘More and more banks, law, professional services and advisory firms in Guernsey and Jersey are using various social media platforms for a whole range of reasons, and this trend is only going one way.

‘The FCA guidelines are essentially quite pragmatic, sensible and useful generally in terms of effective promotion through social media, and we would certainly encourage firms to acquaint themselves with them and understand how they can be applied in a local context.’