Despite the U.S. Securities and Exchange Commission (SEC) giving a green light to disclosure via social media, the vast majority of investor relations (IR) departments are neither using social media today nor do they have any intention of doing so any time soon.
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The Canadian Securities Administrators are implementing amendments to the Canadian prospectus rules relating to permitted marketing activities for public offerings. The new rules come into force on August 13, 2013.
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Overnight block trading has surged on Wall Street, reaching almost $60
billion in the last 12 months, nearly two and a half times the amount
totaled in the year-earlier period of $24.3 billion, according to data
from Thomson Reuters.
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Yesterday, the Canadian Securities Administrators (CSA) published final amendments to their securities rules that will expand the scope of marketing activities that can be conducted in connection with prospectus offerings.
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Regulation M addresses certain activities that could be viewed as artificially impacting the price of an offered security. It is intended to protect the integrity of the securities offering process by preventing persons with a financial interest in a securities offering from taking particular actions that might manipulate the market for the securities being offered.
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Directors are not very high on the mentoring skills of the CEOs in their charge. Nor are they all that keen on how CEOs deal with them. Yet oddly, directors do not appear to believe this is a problem.
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Many investors have a hard enough time reading 10-Ks and keeping up with corporate earnings releases. Now they're going to have to monitor Facebook and Twitter, too.
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Having been in the executive compensation and governance advisory space from the days of murky disclosure to today, we at Global Governance Advisors can remember a time when almost every figure listed within a firm's public disclosure was debatable.
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