Sun CEO calls for new Web-friendly rules on company disclosures
Jonathan Schwartz, the CEO and blogger-in-chief at Sun Microsystems, has posted an open letter to SEC Chairman Christopher Cox, calling on him to let blogs and corporate websites be used for official company statements under the agency's controversial Reg. FD, which regulates the disclosure of information by publicly-traded companies.

Writes Schwartz:
Unfortunately, Reg. FD doesn't recognize the internet, or a blog, as the exclusive vehicle through which the public can be fairly informed. In order to be deemed compliant, if we have material news to disclose, we have to hold an anachronistic telephonic conference call, or issue an equivalently anachronistic press release...I would argue that none of those routes are as accessible to the general public as a this blog, or Sun's web site. Our blogs don't require a subscription, or even registration, and are available to anyone, across the globe, with an internet connection. Simultaneously.
Good point. But perhaps bad news for PR Newswire and Business Wire. Ahh, disruption. The Browser can't wait to hear how the intriguing Mr. Cox responds.
Posted by Oliver Ryan 12:31 PM 1 Comments comment | Add a Comment

This was expected., especially from a company and exec that view themselves as innovative and cutting-edge because they blog. As blogs become more and more popular people feel they are suited for communicating news/fillings etc - which in my opinion as a professional communicator for a public company, is wrong. Blogs, while popular and far reaching in some respects are not controlled outlets for disclosing material information to a wide enough base. This is specifically why companies use wire services.
Posted By Boston : 9:03 AM  

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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.