SEC Gives Companies OK to Use Social Media
WASHINGTON — The Securities and Exchange Commission will allow public companies to make significant announcements on Facebook, Twitter and other social media sites provided they alert investors which sites they intend to use. The decision announced Tuesday allows companies to use social media in place of more formal websites. The question arose after Netflix Inc. CEO Reed Hastings said on his Facebook page in July that subscribers together watched more than 1 billion hours of video for the first time during June, the agency said. (MORE: How the Great Recession Changed Our Spending Habits) An SEC rule requires that all investors receive significant company information at the same time. By allowing businesses to use more informal channels to share news with investors, the SEC is acknowledging the shift in technology that has made social media indispensable for the largest and most powerful corporations. One key requirement is that companies alert investors in press releases or regulatory ...
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United States: The SEC Provides Guidance On The Use Of Social Media For Public Company Disclosure - Proskauer Rose LLP
On April 2, 2013, the Securities and Exchange Commission issued a "report of investigation" that provides important guidance for companies that wish to use social media outlets, such as Facebook and Twitter, to publicly disclose corporate developments.
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Found 1 month ago on channel
Mondaq
Cyprus: International Briefings 2013 - Andreas Neocleous & Co LLC
The Cyprus Securities and Exchange Commission have recently issued a circular addressed to Cyprus investment firms to draw their attention to the obligations attached to their freedom to provide services in other EU member states.
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Found 1 month ago on channel
Mondaq
US Judge Approves SAC Settlement With a Caveat
A U.S. district judge says SAC should pay $602 million to settle an insider-trading lawsuit brought by the Securities and Exchange Commission, but only once a higher court rules on a separate case against Citigroup.
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United States: SEC and CFTC Mandate Strict Identity Theft Prevention Compliance - Day Pitney LLP
On April 10, the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) (together, the Commissions) jointly adopted rules and guidelines that require certain entities subject to their enforcement authorities to develop compliance programs to protect investors from identity theft.
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Found 1 month ago on channel
Mondaq