ScreenMeet Releases Industry Research Report Highlighting Compliance Risks of Online Collaboration Systems

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Advisors using popular screen sharing tools are inadvertently creating regulatory risk via the usage of electronic “chat” and “white-boarding” features

The problem with these mass-market platforms is that there is no programmatic ability to properly record and archive the electronic content, which is required by regulators.

ScreenMeet, the industry’s first online meeting service that just works, announced today the release of its most recent industry research report that highlights the compliance and regulatory risks of screen sharing and online collaboration systems many advisors are using today.

The report, “Stay on the Right Side of the Screen – Managing Compliance Risks of Content Sharing Platforms,” identifies the key regulatory issues that need to be managed when advisors are using digital communication and collaboration tools such as, Go To Meeting, Webex and Zoom.

Specifically, these mass-market systems that include features such as electronic “chat” or “white-boarding” need to have the ability to programmatically store, archive, and index those electronic communications, which is a key aspect of complying with FINRA and SEC rules.

“Popular communication tools that many advisors are leveraging were not designed for the unique needs of the wealth management and financial services industry,” said Ben Lillienthal, CEO of ScreenMeet. “Financial advisors have very strict regulatory requirements for maintaining digital records and client communications, which many advisors are currently violating by using these non-purpose built platforms.”

To help advisors better navigate this compliance area, ScreenMeet conducted detailed research into these issues in order to highlight problem areas as well as to propose a framework for enabling advisors and their firms to continue to experience the many benefits that digital communication technologies provide.

According to the report,

“The most problematic of these communication features is the ability to conduct electronic chats and use “white-boarding” to communicate with clients. As a result, in order to remain compliant, advisory firms will need to record, archive, index and make these digital conversations searchable in their databases. FINRA Rule 07-59, Supervision of Electronic Communications lays out these requirements in detail.

“The problem with these mass-market platforms is that there is no programmatic ability to properly record and archive the electronic content, which is required by regulators,” Lillienthal noted. “As a result, advisors will need to deploy very archaic and manual processes to capture these conversations and store them in a compliant manner, making the advisor and client experience problematic.”

The report also identifies the ramifications for not following these regulatory guidelines, including the stiff penalties for violations of ensuring appropriate recordkeeping – most notably recent, high profile multi-million dollar fines.

What is needed is a new approach to screen sharing and digital communication tools so that advisors can continue to better communicate with clients, enhance their service offering, while improving productivity. Platforms such as ScreenMeet, are designed to be easy to use, have no downloads to get started, as well as do not contain any electronic communication features.

“As a specialized technology firm, ScreenMeet is the industry’s only compliant online meeting and screen sharing platform that is easy to use, secure, and does not contain problematic electronic communication features,” Lilienthal said. “We are pleased to be able to provide this key industry research as an informative resource to help advisors and their firms remain successful, while staying compliant.”

To download a copy of the report, please visit

About ScreenMeet

ScreenMeet brings online meetings to everyone, anywhere. Designed for the increasingly-mobile world, ScreenMeet accelerates consensus-building and decision-making because advisors and their clients and prospects can instantly engage around any content - whether sitting at a desk or on-the-go using their phone. Apps, information and presentations can be shared instantly from any phone and computer to any device. Founded by experienced experts in collaborative, real time systems, ScreenMeet is patent pending, innovative technology. Learn more at

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Timothy Welsh
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