SEC mandates XBRL for financial statements
AFTER several years of evangelizing it at every opportunity, US Securities and Exchange Commission (SEC) chairman Christopher Cox yesterday finally sealed what he hopes will be his legacy. The commission voted 4 to 1 to approve rules that will require all registered companies to use eXtensible Business Reporting Language (XBRL) when submitting their financial statements [...]
New influencers emerge on Web 2.0 investor communities
THE recent emergence of online investor communities that are registered as investment advisers with the US Securities and Exchange Commission is producing a new brand of influencer that investor relations professionals need to pay attention to because they could challenge traditional Wall Street analysts in shaping investor opinions.
The best corporate bloggers you’ve never heard of
THERE was a bit of a fuss last week among consultants and corporate marketers who’ve made “social media” a big part of their business. Forrester, a technology research and consulting business, released results from a survey showing that only 16% of consumers trust corporate blogs. The news that corporate blogs are not a panacea for [...]
SEC calls meeting for final XBRL rule
THE US Securities and Exchange Commission (SEC) will meet on December 17 to decide whether to make eXtensible Business Reporting Language (XBRL) mandatory for public company financial statement information. The move has been widely anticipated following the publication of a rule proposal in May. It was thought by some in the XBRL community that the [...]
How new finance websites impact investor relations
IR professionals must recognize that the early adopters of these technologies and platforms will be followed by critical mass. The after-effects of this evolutionary process entails a shift of power to new influential individuals and online communities.
Charlie McCreevy communicates
READ this speech that Charlie McCreevy, European Commissioner for Internal Market and Services, gave at the Institute of Chartered Accountants in England and Wales debate on financial markets in London yesterday. If there is anything you can do to ensure that your CEO’s next letter to shareholders is anywhere near as direct and to-the-point you [...]
CFA Institute backs IR Web Report on Regulation FD
THE CFA Institute, the global professional association representing almost 100,000 financial analysts, portfolio managers, and other investment professionals in 133 countries and territories, has complained to the Securities and Exchange Commission (SEC) about companies that are slow to post earnings releases on their websites. In a December 1 comment letter (PDF 281KB, 7 pages) on [...]
JP Morgan takes high road over unsponsored ADRs
BACK in October, we broke the story about the flood of new unsponsored American Depositary Receipts (ADRs) being created without company consent by US banks that are exploiting new Securities and Exchange Commission (SEC) rules designed to make the US markets more attractive to foreign companies. At the time of our initial post, almost 500 [...]
New technologies make audio and video searchable
AS THE use of audio and video become increasingly common on investor relations websites and archives become deeper, IR website managers must consider ways to ensure that investors can easily find information in these formats. The problem until now has been that information in audio and video is invisible to search engines, which rely on [...]
Should IROs worry about LinkedIn?
Social Networks like LinkedIn expose previously unpublished information about listed companies that could be used by researchers.
Why almost no one is complying with Regulation FD
LAST July, the US Securities and Exchange Commission (SEC) approved new guidance for company websites that covered a broad spectrum of issues that have apparently been holding companies back from making better use of their websites as a source of disclosure. Although the interpretive release provided advice on a range of topics, including links to [...]
7 fixes for the SEC's notice-and-access proxy process
A FEW months ago, there was talk at the US Securities and Exchange Commission (SEC) about making changes to address the lack of participation by retail shareholders in annual meetings where companies used the new default electronic delivery option called notice-and-access. You will recall that under the new option, companies mail a notice to their [...]
Is Broadridge CEO out of the loop?
“The only update I can give you on the investor network is we’re rolling out an internal pilot for friends and family, and I’m hoping in the future to be talking more about that with a very excited tone.” That statement was made by Rich Daly, CEO of Broadridge Financial Solutions (NYSE: BR) on his [...]
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