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ICR Westwicke Blog

The ICR Westwicke Blog is designed to deliver information and insights into the ever-changing world of healthcare communications.

Test Your Reg FD Knowledge and Compliance

Posted on April 24th, 2013. Posted by

Test Your Reg FD Knowledge and Compliance

Regulation FD, now in its 13th year of implementation, remains a source of consternation for senior management and investor relations teams in their communications with investors. Some companies err on the side of excessive caution and end up rarely engaging in regular, productive dialog with The Street. Other companies go the other extreme and provide copious amounts of detail while filing an abundance of 8Ks. Finding the appropriate balance is the best strategy for open, useful relationships with investor audiences while steering clear of actions that could lead to SEC penalties.

Here, we offer a brief description of what Reg FD is, followed by a simple test to help you determine your level of compliance with the regulation. We hope you will find this helpful as a starting point as you think about Reg FD. Since the following answers should not be construed as legal advice, we also urge you to talk with your legal counsel before deciding what practices are best for your company and its particular disclosure situations.

What is Reg FD?

Reg FD is the SEC’s attempt to level the playing field for all investors – institutional and individual ­– by prohibiting selective disclosure of material information.

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The SEC Has Opened the Social Media Door; Should You Walk Through?

Posted on April 10th, 2013. Posted by

Should You Walk through SEC’s Opening Door for IR Social Media Use?

On April 2, 2013, the Securities and Exchange Commission (SEC) issued a report that outlines how companies can use social media outlets to disclose information and remain in compliance with Regulation FD. The report was the result of the SEC’s investigation of statements made on Facebook and Twitter by Netflix CEO Reed Hastings, where he announced a “viewing” milestone for his online movie and TV rental company. While the investigation centered on whether Hastings violated Regulation FD, Hastings has maintained that his disclosures were neither material, nor exclusive.

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Have News to Release?

Find out whether you should file a Form 8-K, issue a press release, or do both by using our easy-to-reference chart, “Form 8K vs. Press Release: What’s the Difference?

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