By Nathan Rudyk
With the USA's financial infrastructure crumbling like a bag of Ritz crackers in a hurricane, the Security and Exchange Commission (SEC) has provided fresh guidance on how publicly listed companies meet disclosure requirements, creating, it seems, new opportunities for Web sites and social media tools to be engaged in the work of investor relations. According to Kate Plourd at CFO.com:
Companies now will be permitted, under certain circumstances, to distribute investor information via Web sites exclusively — instead of through a system limited to SEC filings and widely distributed news releases. The guidelines are intended to help investor relations in using that less-understood manner of dissemination.
One of the more interesting phrases in the new guidance is that Web-based disclosure no longer has to follow “a format comparable to paper-based information, unless the Commission’s rules explicitly require it.” So start your interactive engines business PR and IR professionals! Your jobs are no longer enslaved by what works on dead trees.
Great for the SEC. And great for companies and investors who will have more/better interactive ways to communicate with each other.
Now, maybe the SEC wizards can do something about the Wall Street slime-balls that packaged up substandard mortgages as AAA investment instruments and polluted the world's credit markets with a trillion dollars (give or take a few hundred million) of toxic debt. Maybe they can throw them into YouTube Guantanamo and make em watch an endless loop of this video.
(Nathan Rudyk is President and CEO with market2world communications inc., Ottawa, Canada's tech PR and product marketing agency.)