Securities Law
SEC Eases Disclosure Rules Under Reg FD
Posted Aug 1, 2008, 03:19 pm CST
By Martha Neil
Corporations may now sometimes fulfill their public disclosure requirements under Regulation FD by posting information on their websites and blogs rather than having news releases distributed by third-party companies, according to new guidance issued by the U.S. Securities and Exchange Commission. The move is expected to cut compliance costs.
However, the specifics of the new guidance won't be clear until the full interpretative release is published in another week or so, says a securities consulting group in the IR Web Report blog.
The guidance also makes clear that companies are not responsible for correcting wrong information posted by members of the public in public comments sections of their blogs, the article notes.
Further details are given in an SEC staff statement.
Additional coverage:
Computerworld: "SEC to let companies use Web to disclose material data to shareholders"
PR Week: "SEC's recommendation impacts PR newswires"
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