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Thank you -- and so social media this is a pretty big deal I guess it's legitimate in the eyes of the SEC now you can basically get your earnings reports on Twitter from now on your body judge has.
More on the story is not a -- their day in William and I've been using Twitter for a number of years corporations and CEO have -- this year as have been using -- -- for years as well but it wasn't until late yesterday that the SEC acknowledge all of those platforms.
As legitimate sources for -- -- any disseminating corporate information now.
After months of looking at the issue basically since December of last year the FCC has now officially given the OK for SEC regulated companies.
-- uses social media -- as a platform for disseminating material and corporate information.
Now overall what the SEC was concerned about what is it's they said this in the statement with their ruling saying that 1% of shareholders.
Should not be able to get a jump on other shareholders just because a company is selectively disclosing important.
Information the agency took up the issue as I mentioned in the month of December when Netflix CEO Reed Hastings you may remember this.
He tweeted out dead and some news about a company milestone that had been reached about a billion.
-- about a billion -- hours.
That the company was able to reach the SEC at that time accused him violating regulation -- regulation fair disclosure.
Which requires companies to disclose material information to shareholders.
At the exact same times and he disclosed it on his Twitter feed but not necessary -- an SEC filing.
But with this decision a last night the SEC has completely changed his stance saying that tweets FaceBook postings blogs web sites.
And even SEC filings are all legitimate ways of getting information out -- by the way no charges were brought up against Reed Hastings.
That was also part of this story as well but you know.
-- SEC getting on board with what we've known all along people are.
Sharing information on Twitter and FaceBook -- to the times producing normal needless -- should Bonnie thank you very much for that this next.
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