August 1, 2008 at 16:28The press releases are over. Corporate Blogs Recognized as Official SEC Information Source
The US Securities and Exchange Commission made a historic decision yesterday . From now on, public companies are not required to publish official press releases. All the required financial information can be posted on corporate blogs. From this moment they become a full-fledged source of information, which, according to the law, is required to “be brought to the general knowledge”.
According to accepted recommendations, the company’s website is considered an official source of data. A press release can be published on the financial information page, in the news feed or in the corporate blog on the company's website.
I must say that with this decision, SEC destroys the old and familiar way of transferring information from corporations to the general public. This always happened through the media, and for the media themselves it was one of the main sources of materials. Now, the progress of online media has reached a certain level when media assistance is no longer needed. People without them are able to independently subscribe to the necessary RSS and quickly receive all the necessary information.
This is the long-awaited SEC solution. Apparently, in the very near future, press releases can be officially classified as spam, which they actually are. If a company wants to disseminate information, then it can easily do it through social media like Habrahabr, simply by posting a link to its official blog here (or by posting its official blog right here, this functionality may appear on SuperHabr) and by independently entering communication with the public. It’s not necessary to fill up the mailboxes of journalists with garbage - this is simply ineffective.
via TechCrunch
According to accepted recommendations, the company’s website is considered an official source of data. A press release can be published on the financial information page, in the news feed or in the corporate blog on the company's website.
I must say that with this decision, SEC destroys the old and familiar way of transferring information from corporations to the general public. This always happened through the media, and for the media themselves it was one of the main sources of materials. Now, the progress of online media has reached a certain level when media assistance is no longer needed. People without them are able to independently subscribe to the necessary RSS and quickly receive all the necessary information.
This is the long-awaited SEC solution. Apparently, in the very near future, press releases can be officially classified as spam, which they actually are. If a company wants to disseminate information, then it can easily do it through social media like Habrahabr, simply by posting a link to its official blog here (or by posting its official blog right here, this functionality may appear on SuperHabr) and by independently entering communication with the public. It’s not necessary to fill up the mailboxes of journalists with garbage - this is simply ineffective.
via TechCrunch