Friday, October 06, 2006

Financial Reporting - using Blogs?

CEO Jonathan Schwartz has sent a letter to SEC Chairman Christopher Cox asking permission to disclose news about Sun Microsystems on the technology company's web site and on his blog, says Red Herring.

Mr. Schwartz made the intention known on his company blog, including the text of the letter he sent to Mr. Cox, on Monday in a posting.

The news would be a major shift in the way business news is distributed.

In order to make sure investors get important information about public companies at the same time, companies are required under so-called “Regulation Full Disclosure” guidelines to distribute such information via press releases and conference calls.

This now brings financial PR right into the heart of social media.