SEC Permits Corporate Blogs as Public Disclosure
In a historic decision, the Securities and Exchange Commission has OK’d the request of SUN CEO Jonathan SChwartz’ request to let corporations disclose through blogs, rather than traditional media and distribution channels.
The IR Web Report explains, “UNDER certain circumstances, companies can rely on their websites and blogs to meet the public disclosure requirements under Regulation FD (Fair Disclosure), according to new guidance unanimously approved by the US Securities and Exchange Commission today.”
Traditionally, disclosure has been very expensive. TechCrunch estimates that each disclosure costs a few hundred dollars, sometimes over a thousand, and so this will reduce that cost for most businesses. Interesting!
SEC To Recognize Corporate Blogs as Public Disclosure. Can We Now Kill the Press Release? [ TechCrunch ]