SEC promotes web as financial info release medium

The SEC has taken a keen interest in promoting new technologies as a way to distribute corporate financial information. The looming mandate for XBRL is an example. Similarly, the SEC just released guidance that encourages companies to use the web--their own sites or recognized third-party sites--as the sole means of releasing market-sensitive information. Financial Week notes that the news went over like a rock. There won't likely be any dramatic change. While the news makes some sense from a Reg FD standpoint, few companies will likely cease releasing news via press release distributors in favor their websites. There could be a period of confusion as investors face uncertainty in whether to look for 8-k disclosures for news or press release distributors, or website items. Companies will have to somehow make clear to investors and analysts how they intend to communicate.  

For more:
- here's the Financial Week article

Related Article:
Time for an executive web posting policy?