Is the press release, that proud herald of Absolutely Vital Company Information, on its way out?

The SEC recently expanded a company’s ability to release information through company blogs with a set of rules governing these “new” tools. Is social media next?

For a long time Jonathan Schwartz (CEO of Sun Microsystem) has been lobbing the SEC to allow disclosure of financial information through corporate blogs. In a landmark announcement, a historical decision was made to allow the distribution of corporate information through corporate blogs to satisfy disclosure requirements.

The IR Web Report explains, “UNDER certain circumstances, companies can rely on their websites and blogs to meet the public disclosure requirements under Regulation FD (Fair Disclosure), according to new guidance unanimously approved by the US Securities and Exchange Commission today.” This is officially the end of press release.

Source: innovation playground