A former student of mine, Diana, sends along this link to an AP news story – SEC chief suggests blogs for disclosures.
Diana was (is) a great student and I’m not surprised that she is following news about social media in the corporate world. I thank Diana for sharing the news and continuing to keep me up to date on her experiences in NYC. (More on that, later.)
Add to this SEC/Sun news the recent news that the SEC is backing XBRL – SEC backs XBRL – are you ready? (September 26, 2006) How will this affect the SMPR / hRelease?
So, what is the story here and what can it mean for public relations?
First, the AP story:
SEC chief suggests blogs for disclosures
By MARCY GORDON, AP Business Writer Tue Nov 7, 1:58 AM ETWASHINGTON – In the first official communication posted to a blog by a chairman of the Securities and Exchange Commission, Christopher Cox said he was intrigued by the idea of letting companies use Weblogs to disseminate important corporate information.
Cox has invited the chief executive of Sun Microsystems Inc., avid blogger Jonathan Schwartz, to talk to the agency about the idea of allowing companies to disclose significant financial information through blogs.
The SEC chief showed interest in Schwartz’s recent request for blogs to be used as a way to expand investors’ access to information. His response to Schwartz, posted on Sun’s Web site on Friday, caught the attention of the online world and even sparked envy from a Wall Street Journal blog.
… and …
Said Cox: “Assuming that the (SEC) were to embrace your suggestion that the ‘widespread dissemination’ requirement of Regulation FD can be satisfied through Web disclosure, among the questions that would need to be addressed is whether there exist effective means to guarantee that a corporation uses its Web site in ways that assure broad non-exclusionary access …”
… and …
Thirty Fortune 500 companies are now publishing corporate blogs, nearly double the number in December 2005, according to the Fortune 500 Blogging Wiki, a collaborative tracking site. Technology companies such as Amazon.com Inc., Cisco Systems Inc. and Oracle Corp. were early adopters, but senior executives at big industrial companies like Boeing Co. and General Motors Corp. also have embraced the trend.
Blogs with related posts:
- Jonathan Schwartz’s Weblog : Weblog – One Small Step…
- Jonathan Schwartz’s Weblog : Weblog – Sunlight on a cloudy day
- SEC Chairman Cox Applauds Use of Corporate Blogs
- LexBlog Blog : SEC Chairman Cox posts comment on blog
- Law Blog » SEC Chairman Cox Posts a Comment On a Blog
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