Social Media and Agents - Should there be rules?

Our provincial board is starting up a task force to look at social media and whether or not there should be rules on how agents interact with it. I've been elected chair of the task force and am looking for any feedback, opinions, examples from your boards, on this topic.
Has your board had to deal with agents using social media in a negative way?
Does your board or broker have rules/guidelines for the use of social media?
Has your business been affected by social media in a positive or negative way?
Have you embraced social media in your business model?
What is your feeling on social media and business?
Whatever comes to mind will be helpful. Our mandate is pretty broad and open to a lot of opinions and discussion.
If you are not a real estate agent, no problem...what is your opinion on this topic?
You can email me at kylehislop@gmail.com
Kyle Hislop
RE/MAX