Comments on: The SEC discovers Twitter… http://www.footnoted.org/sec-stuff/the-sec-discovers-twitter/ Michelle Leder's guide to what's hiding in SEC filings Tue, 16 Mar 2010 22:19:36 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Michelle Leder http://www.footnoted.org/sec-stuff/the-sec-discovers-twitter/comment-page-1/#comment-5980 Michelle Leder Fri, 08 Aug 2008 17:49:07 +0000 http://www.footnoted.org/?p=2199#comment-5980 I sent a note to the folks in the SEC PR department on Thursday afternoon to get some more insight into their Twittering. Here's the questions and the answers that spokesman John Nester sent back: 1. What prompted the decision to start Twittering? Nester: There’s a whole new world out there for investors who want to receive and exchange information, and the SEC is determined to be a part of it. We’ve undertaken a number of recent initiatives to shape the future of financial disclosure, not merely keep pace. For example, the SEC is leading the effort to make financial reports instantly accessible, understandable and comparable through the use of interactive data. We have also recently published guidance for companies to better communicate with investors on company web sites – more info <a href="http://sec.gov/rules/interp/2008/34-58288.pdf" rel="nofollow">here</a> if you would like it. Twitter represents a new opportunity for the SEC to carry out its mission to educate individual investors because social media enthusiasts, members of the media, and individual investors are among the heaviest users. Since Twitter is an opt-in vehicle, people can choose to “follow our tweets” – and more than 200 have since we began last week. 2. How do you decide which press releases are Twitter-worthy? Nester: We’re learning as we go, and will likely expand our offerings as a result. 3. Do any of the Commissioners have their own Twitter accounts? Nester: No reason they won’t. I sent a note to the folks in the SEC PR department on Thursday afternoon to get some more insight into their Twittering. Here’s the questions and the answers that spokesman John Nester sent back:

1. What prompted the decision to start Twittering?
Nester: There’s a whole new world out there for investors who want to receive and exchange information, and the SEC is determined to be a part of it. We’ve undertaken a number of recent initiatives to shape the future of financial disclosure, not merely keep pace. For example, the SEC is leading the effort to make financial reports instantly accessible, understandable and comparable through the use of interactive data. We have also recently published guidance for companies to better communicate with investors on company web sites – more info here if you would like it. Twitter represents a new opportunity for the SEC to carry out its mission to educate individual investors because social media enthusiasts, members of the media, and individual investors are among the heaviest users. Since Twitter is an opt-in vehicle, people can choose to “follow our tweets” – and more than 200 have since we began last week.

2. How do you decide which press releases are Twitter-worthy?
Nester: We’re learning as we go, and will likely expand our offerings as a result.

3. Do any of the Commissioners have their own Twitter accounts?
Nester: No reason they won’t.

]]> By: David http://www.footnoted.org/sec-stuff/the-sec-discovers-twitter/comment-page-1/#comment-5967 David Thu, 07 Aug 2008 19:18:57 +0000 http://www.footnoted.org/?p=2199#comment-5967 I wonder if there's any way to verify that that's the actual SEC, besides calling them up. I did a perfunctory search of SEC.gov but could find no mention of twitter. It got me thinking that a great scammer could pose as a goverment agency, forward a bunch of these little press releases for a few months, and gain the trust of fellow twitterers. Then the schemer could use twitter to "short and distort" a stock, and make his escape. Of course, he'd probably show up in the very same press releases as a small time fraudster down the road. I wonder if there’s any way to verify that that’s the actual SEC, besides calling them up. I did a perfunctory search of SEC.gov but could find no mention of twitter.

It got me thinking that a great scammer could pose as a goverment agency, forward a bunch of these little press releases for a few months, and gain the trust of fellow twitterers.

Then the schemer could use twitter to “short and distort” a stock, and make his escape. Of course, he’d probably show up in the very same press releases as a small time fraudster down the road.

]]> By: Frank Graham http://www.footnoted.org/sec-stuff/the-sec-discovers-twitter/comment-page-1/#comment-5966 Frank Graham Thu, 07 Aug 2008 15:31:53 +0000 http://www.footnoted.org/?p=2199#comment-5966 Neat article. I had same reaction to Tweeter when it began. Seemed best for large or extended families to stay in sync but not much else in finance realm. For that there are the various boards, one popular with both traders & investors is http://investorshub.advfn.com/default.aspx It has a wide variety of interests and styles. Also good for deep drill on latest info not found elsewhere. Some committed folks actually get & post responses from IR on individual stocks. And they post pros & cons often in detail. Wonder who's next to join Tweeter? The Fed? http://www.federalreserve.gov/ Neat article. I had same reaction to Tweeter when it began.
Seemed best for large or extended families to stay in sync
but not much else in finance realm. For that there
are the various boards, one popular with both traders &
investors is http://investorshub.advfn.com/default.aspx
It has a wide variety of interests and styles. Also
good for deep drill on latest info not found elsewhere.
Some committed folks actually get & post responses from
IR on individual stocks. And they post pros & cons often
in detail.

Wonder who’s next to join Tweeter? The Fed?
http://www.federalreserve.gov/

]]> By: Merri Jo Gillette Rocks http://www.footnoted.org/sec-stuff/the-sec-discovers-twitter/comment-page-1/#comment-5965 Merri Jo Gillette Rocks Thu, 07 Aug 2008 14:57:48 +0000 http://www.footnoted.org/?p=2199#comment-5965 Thanks very much for having interest in the Chicago office's enforcement actions against those tire recyclying scamsters in Michigan. Am surprised they didn't go public as TIRE.PK or TIRE.OB. Thanks very much for having interest in the Chicago office’s enforcement actions against those tire recyclying scamsters in Michigan.

Am surprised they didn’t go public as TIRE.PK or TIRE.OB.

]]>