A weekly compilation of news from around the world of investor relations.
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LSE Bid on Knife Edge as TMX Battle Heats Up
A brace of sweetened offers has failed to sway shareholders in the race to buy the operator of Canada’s biggest stock exchange, and time is running out ahead of a June 30 shareholder vote. Reuters
In 2nd Circuit Victory, Banks Fail to Block News Aggregator’s Online Stock Reports
In a decision that could have broad implications for news aggregation services, the 2nd US Circuit Court of Appeals ruled June 20 that financial news service Theflyonthewall.com can report on securities brokerages’ stock recommendations as soon as it learns of them, as long as it does not violate federal copyright law. Law.com
SEC Approves New Reporting Requirements for Hedge Funds
A divided Securities and Exchange Commission approved new rules on Wednesday that would impose sweeping disclosure requirements on large hedge funds and other private investment advisers, a first for an industry that has long eluded Washington oversight. DealBook
Recent Trillion-Dollar Filings Suggest Weakness In SEC System
A spate of recent documents submitted by a Texan indicate nearly trillion-dollar stakes in some huge publicly traded companies, highlighting the open and unmonitored nature of the Securities and Exchange Commission filing process. Dow Jones
Investment Bankers Predict More US IPOs in Second Half of 2011
Thus far in 2011, the technology sector has led all industries in US IPOs and almost three-quarters (74%) of investment bankers predict even more tech offerings during the second half of the year. More than two-thirds (69%) see the numbers of IPOs from the energy vertical increasing as well. BDO
Hedge Funds End 10-Month Winning Run
Total assets under management were down by $5 billion, bringing the industry size to $1.82 trillion, Eurekahedge said. Performance-based losses totaled $13.1 billion, while managers attracted net positive asset flows of $8.1 billion, it said. Some $113.8 billion has been invested with the industry in the first five months of 2011, the report said. Bloomberg
Stock Research Gains, E-Trading Slips in Shift
In 2010-2011, the share of commissions paid to brokers on trades of US equities to compensate for product and analyst service, sales coverage and facilitating direct access to company management teams jumped to a 10-year high of 59%. Futures Mag
Exchanges Want Delay of SEC’s Naked Access Ban
US exchanges asked their regulator to delay new rules that would ban so-called “naked access” to markets, where brokers rent their IDs to unlicensed high-frequency traders trying to gain an edge of microseconds. Reuters
UK Business Secretary Threatens to Get Tough on Executive Pay After 32% Rise
The business secretary is to demand more disclosure about bonuses and their link to company performance after hitting out at the “ethics of the wild east,” which he said damaged the reputation of the UK. The Guardian
A US Fix Sought for Long Chinese Stock Halts
Numerous US-listed Chinese companies, many of which first listed through reverse takeovers, have been hit with charges of accounting fraud. When companies respond to allegations, shares are often halted for weeks or even months as they investigate. Reuters
SEC Weighs New Policies on Foreign Reverse Mergers
Securities regulators are developing policy changes to address the recent rash of accounting scandals at US-listed companies based in China and other countries, SEC Chairman Mary Schapiro said. Reuters
High School Students Show Near-Universal Mistrust of Financial Institutions
Only 25% of students disagreed with the following statement: “The stock market is rigged mostly to benefit greedy Wall Street bankers.” Finextra
NYSE Responds to Uproar Over Free IR Services
‘That doesn’t mean we offer the services of just anyone; we have a process for evaluating vendors and services. We’ll only enter into relationships to offer high quality products and services, but we’re not endorsing any vendors or excluding any from the mix.’ Business Insider
Getting Social with Investor Relations
Having an open iMeet room while discussing financial results—whether it’s on-the-fly or scheduled earnings calls—helps put a face with a stock ticker and greatly humanizes our company. Keeping my iMeet room open during our earnings calls is especially beneficial to investors, who gain a behind-the-scenes look at the production of our call. iMeet also includes streamlined chat so investors can interact with the entire management team during the call. PGi Blog
Social Media Usage Grows Among Business Journalists
Four out of five business journalists use Twitter during their workday, while half are blogging, according to an informal survey of business journalists conducted by the Society of American Business Editors and Writers. And more than three-fourths of the business journalists who responded also use Facebook and LinkedIn for job purposes. SABEW
Groupon’s Humorous Take On The IPO Quiet Period
No matter what you think about Groupon, the company’s sarcastic sensibility is perhaps second to none. Wall Street Journal
Mobile App Use Outpacing Web Browsing, Report Says
People are spending more time each day using mobile apps than browsing the Web, according to a new report from research firm Flurry. CNet
Social Media & the Securities Laws
The use of social media by companies today raises many issues, not the least of which is the application of the federal securities laws to communications made via platforms such as company websites, electronic shareholder forums, Twitter, Facebook and other similar web-based services. PLI
Pam Agnew, ABC is a director of IR Web Reporting International Inc. and an award-winning communicator. She has more than 20 years of corporate and agency experience in investor, crisis, corporate, media, stakeholder and sustainability communications on four continents for leading global companies as well as stock exchanges, securities regulators and large institutional investors.
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