The discussion between Sun CEO Jonathan Schwartz and SEC Chairman Christopher Cox regarding the use of blogs (and RSS) for financial disclosures is fascinating on a number of fronts.
- First is simply the fact that it’s happening - that there is serious top level discussion about the use of blogs for financial disclosure. It would probably have been laughed at up until quite recently. The blogosphere continues to mature and enter the mainstream.
- Second is that the discussion is taking place on Jonathan Schwartz’s blog – with Chris Cox responding directly on the blog
- Third is the potential for blogs to become a focal point for financial reporting and discussion – can you picture firms publishing specific financial data on its CFO blog and then being able to read below the comments of investment analysts, journalists and more? It might be scary for some but it might also be incredibly powerful for the small investor to be able to access this kind of information in a single place.
- Audit firms and partners will certainly have to get their head round blogs and rss – something which few have shown an inclination to do so far as we discovered in our recent research
It will be interesting to see how this one plays out.
Technorati Tags : SEC, Sun, Jonathan+Schwartz, Christopher, Cox, Blogs, Financial+Disclosure
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