The US Securities and Exchange Commission (SEC) has finally joined the rest of us in the 21st century by clarifying the rules around sharing company news on social media sites. This includes but is not limited to Facebook, Twitter, and LinkedIn.
In July of 2012, Netflix CEO, Reed Hastings posted on his personal Facebook that for the first time in the company’s history the members had consumed over 1 billion hours of content in one month. After that post, the SEC sent a Wells Notice to Netflix signaling that they were being investigated for disclosing company information on inappropriate channels.
Now the SEC is going as far to say, “In fact, we encourage companies to seek out new forms of communication to better connect with shareholders.”
A lot has changed in the last few months. The important thing to remember now is that you need to inform stakeholders where you will be sharing information and ensure that they understand how to access it. Remember, just because most people are on social media it doesn’t mean all are.