Lawyers Media News

Law Marketing Topics for October 5, 2022

Timely advice courtesy of Kim Kardashian: Disclose fact that social media influencer messages were compensated.

It seems like just yesterday we were saying that government enforcement actions create content marketing opportunities for law firms.

And then this happened: SEC Charges Kim Kardashian for Unlawfully Touting Crypto Security

We hope that most people already know that Kim Kardashian, Mike Tyson, Reese Witherspoon, Matt Damon and some guy named "French Montana" are unlikely sources of sound investment advice.

However, for law firm marketers, the story isn't that it's illegal to be a miserable investment advisor. It's not. What is illegal is to fail to disclose that you're being compensated to give miserable investment advice. The SEC has been pretty clear on this point for a while now.

Ditto the Federal Trade Commission, albeit regarding transactions where an individual's life savings aren't at risk.

So ... the legal requirement that celebrity touts and social media influencers adequately disclose the fact that they're receiving compensation for their efforts. That's a great topic for a blog post or client alert from firms with online marketing practices.