Thursday, November 09, 2006

Is Social Disclosure the Future of Filing?

Although nothing official yet (and probably not for some time), there is a chance that in the future the SEC may be open to allowing corporations to officially file fair disclosure information via corporate blogs. In a response to a letter from Sun Micro's Jonathan Schwartz, posted as a comment to his blog, SEC Chairman Christopher Cox took the first step in proving that it isn't such a crazy idea after all.

Would it really be such a bad move? After all, major blogs receive upwards of seven-figure hits daily, and the fact that the information is obtainable within minutes is definitely a plus. I think those alone are pretty good examples of why the forum might not be a bad idea for fair disclosure.

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