Blogs and Web Sites for Disclosure
As you may have heard the Securities and Exchange Commission has been talking about whether or not blogs and websites could be used for disclosure.
In general I think this is inevitably where things are headed, however I don’t think that it will ever be simply blogs or web sites on their own. They will have to be used in conjunction with press releases.
The reason is that although RSS makes it easy to track a blog or web site. If you’re not subscribed to it, you never see it and if you don’t visit the web site then there is no way to be aware of any disclosure happening at that company. Perhaps this would work for well known and well followed companies, but for the majority they would simply exist out there in no mans land.
I agree with Dominic at IR Daily from back in Oct when he suggested that the press release could be used in conjunction with web sites to notify of changes coming. Imagine a quarterly release being used to point people to the corporate web site. Seems like it makes perfect sense.
What certainly seems clear is that disclosure is about the Internet and it’s only a matter of time for all disclosure to be electronic disclosure.
Technorati Tags: SEC, Compliance, Christopher Cox, Sarbanes Oxley, Sarbanes-Oxley Act, SOX, Reg FD, Securities and Exchange Commission, Investor Relations
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