Business Wire's Preliminary Comments on SEC Disclosure Vote.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Regarding the SEC's recent webcast concerning news dissemination dissemination Medtalk The spread of a pernicious process–eg, CA, acute infection Oncology Metastasis, see there and the use of corporate web sites and/or blogs as a possible means of disclosure, Business Wire believes it is wise to wait until the SEC's interpretive in·ter·pre·tive also in·ter·pre·ta·tive adj. Relating to or marked by interpretation; explanatory. in·ter  pre·tive·ly adv. guidance is published before issuing a
detailed response.
However, we continue to maintain that simply posting material news on a corporate web site or using blogs does not meet the spirit and intent of Regulation FD because it is neither simultaneous, nor full and fair. It is Business Wire's belief that this is not what the SEC intended. As we have stated in the past, the use of web sites as an ancillary Subordinate; aiding. A legal proceeding that is not the primary dispute but which aids the judgment rendered in or the outcome of the main action. A descriptive term that denotes a legal claim, the existence of which is dependent upon or reasonably linked to a main claim. means of news dissemination is, in our view, a best practice. However, web posting or blogs alone are not a substitute for secure and simultaneous push delivery of material news to the disclosure media, financial markets, on-line web portals See portal. , aggregators, and the global investing public. Neither does it accomplish the requirements of the major stock exchanges. There is currently much speculation and misinformation mis·in·form tr.v. mis·in·formed, mis·in·form·ing, mis·in·forms To provide with incorrect information. mis surrounding the SEC's upcoming report. However the CIFiR Report (SEC's Advisory Committee on Improvements to Financial Reporting) is available and we urge you to review it: http://www.sec.gov/about/offices/oca/acifr/acifr-finalreport.pdf. Upon the issuance of the SEC's complete interpretive guidance report, Business Wire will provide a more detailed analysis and response. |
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