SEC Lets Companies Disclose Via Websites, Blogs

edadams passes along a note in the ABA Journal that reads "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 US Securities and Exchange Commission. The move is expected to cut compliance costs." Here is the SEC's policy announcement.

Comments

Re:"It's on the website!"

[timmarhy]

any attempt to hide information comes with huge fines, jail terms and delisting as possible outcomes. there is a reason companies are afraid to fuck with SEC, and there is a reason they will say things in disclosure statements they would NEVER say publicly. just look at SCO they actually listed their lawsuit failing as a possible outcome in one filing.

What about the 8-K

[Hangtime]

Everytime a significant event occurs the company must publish it on one of the wire services and file an 8-K: Current Report with the SEC. My interpretation would be they would continue to have to file 8-Ks, but they could post the information on the investor website instead of sending it to the wire service. If you are filing 8-Ks, you still have a distinct and 3rd party managed repostitory.

Re:Blogs?

[Rude Turnip]

The SEC already does this with the EDGAR database. Every financial statement and major press release has to filed there by public companies in the US. I have a Quick Search set up in Firefox that lets me type "ed [companyname]" into my address bar to bring up any public company's filings.