Do You Know Who Is Using Your Sports Tickets?
Sports ticket giveaways have been making recent news headlines.
In the state of Georgia, the mix of free and football and politics has led to new legislation banning giveaways. Ticket gifting has drawn attention in Texas. In Missouri, a financial firm was recently disciplined by FINRA (The Financial Industry Regulatory Authority) and fined for distributing sports tickets as a form of client appreciation.
From state to state, rules and laws vary that govern the proper use of sports tickets as a means of client entertainment and business development. Gift levels vary. Restricted items vary. For businesses, codes of conduct vary from company to company.
In all cases, it’s important for companies and ticket requesters to err on the side of a key best practice: document and notify. When it comes to your sports tickets, document who was invited, document who attended and what was the purpose, and document who hosted. It’s important to foolproof your ticket management system and build in automatic notifications to all employees. Ensure their ticket orders capture the information your company needs to stay in compliance. Have a system that automatically notifies them.
To learn more, listen to a panel of experts share best practices and discuss documentation and compliance.