SEC Outlines Position on FD Disclosure Using Social Media

April 2013

The Securities and Exchange Commission (SEC), on April 2, 2013, outlined a new disclosure position that clarifies that public companies can use social media outlets like Facebook and Twitter to announce key information in compliance with Regulation Fair Disclosure (Regulation FD). Effectively, this new SEC position represents an update to the SEC’s August 2008 Guidance on the Use of Company Websites and a necessary response to the increased use of communications through social media that has occurred in the past five years.

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