Interested in financial communications? Check out this article by IR Web Report. The article, “41% of heavily traded US-listed international firms shun PR wires,” discusses how new rules by the New York Stock Exchange and the NASDAQ Stock Market minimize the need for international issuers to use paid PR wire services to meet their disclosure requirements.
In an attempt to distribute an earnings release as widely as possible for fair disclosure (meaning everyone has the same access to information, at the same time), many publicly traded companies use wire services (ex. PR Newswire). Now, it is being recognized that SEC (Securities and Exchange Commission) filings, using the SEC EDGAR database, and simply posting the release on the company website is thorough enough.
Click here to read more about the new disclosure rules for US-listed international firms (I encourage you to read for yourself), how Investor Relations firms are impacted, and how companies are using social media sites such as Facebook and Twitter to provide information and establish closer ties to their US-based shareholders.