Media Moves

The SEC chairman posts on a CEO's blog

November 7, 2006

If you’re a regular reader of Talking Biz News, you’ll remember the suggestion about a month ago — Sept. 25 to be exact — from Sun Microsystems CEO Jonathan Schwartz that public companies could satisfy their Regulation FD disclosure requirements via blogs.

Schwartz even sent his suggestion to SEC chairman Christopher Cox — via regular mail.

Jonathan SchwartzCox has now responded, both by letter and with a post on Schwartz’s blog. According to an Associated Press story, he wrote, “The (SEC) encourages the use of Web sites as a source of information to the market and investors, and we welcome your offer to further discuss with us your views in this area.”

Added Cox: “Assuming that the (SEC) were to embrace your suggestion that the ‘widespread dissemination’ requirement of Regulation FD can be satisfied through Web disclosure, among the questions that would need to be addressed is whether there exist effective means to guarantee that a corporation uses its Web site in ways that assure broad non-exclusionary access.”

Read more here.

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