SEC To Recognize Corporate Blogs as Public Disclosure

For several years, Sun CEO, Jonathan Schwartz has lobbied the SEC to allow disclosure of financial information through corporate blogs. In a landmark announcement, it seems that Mr. Schwartz may indeed get his wish, and with it, a historical decision that could break the age-old shackles that bound businesses to traditional media and distribution channels in order to satisfy full disclosure. In a speech yesterday, SEC special counsel Kim McManus outlined new guidance the SEC is about to give companies on when they can use their Websites, including blogs, to disclose material information. What this means is that we can now finally kill the press release, at least in its current form. 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.”
http://www.techcrunch.com/2008/07/31/sec-to-recognize-corporate-blogs-as-public-disclosure-can-we-now-kill-the-press-release/