An August 2008 an interpretative guidance is intended for companies offering interactive information on their website for investors.
The guidance affects four areas of compliance.
- Regulation FD
- Liability in regards to public access to historic information, links to third party sites, summary information in context of fraud prevention. It also takes into account social network impact for fraud prevention.
- Clarification is made about how website information is affected/not affected by Sarbanes-Oxley
- Printer-friendly standards are addressed.
Interesting to note in the Press Release is the impact that social networks have had on the need for further guidance by the SEC. The interaction of investors seems to be a major contributing factor to these new guidelines.
8 years ago Sarbanes-Oxley was passed, now we have new guidelines related to electronic disclosures, wonder how soon new regulations and guidance documents will be needed as technologies continue to advance?