Under certain circumstances, companies can rely on their websites and blogs to meet the public disclosure requirements under Regulation FD, according to new guidance unanimously approved by the US Securities and Exchange Commission today.
Previously, the SEC held that corporate websites could only be used as part of the disclosure process, but with the new guidance corporate websites or blogs can now be the sole means of disclosure
3 comments:
Michael, any thoughts on how this might impact the commercial wire services? They've been the IR tool to ensure FD but this looks to change that radically.
Michael, Here is a link to Business Wire's preliminary statement on this issue:
http://www.businesswire.com/news/home/20080801005612/en
-Tom Becktold, SVP, Marketing, Business Wire
Tom: Thank you for sharing. I think there is value to simultaneous and active communication, versus a website which is passive and only touches those who seek out information.
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