{"id":37514,"date":"2013-05-10T01:37:00","date_gmt":"2013-05-09T23:37:00","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=37514"},"modified":"2013-05-10T08:37:55","modified_gmt":"2013-05-10T06:37:55","slug":"jse-wont-follow-us-lead-on-social-media","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/trending\/37514\/jse-wont-follow-us-lead-on-social-media\/","title":{"rendered":"JSE won’t follow US lead on social media"},"content":{"rendered":"

The Johannesburg Stock Exchange (JSE<\/a>) says it is not yet ready to allow companies to use social media to disclose their financial results.<\/p>\n

Last month (April), the US\u00a0Securities and Exchange Commission<\/a>\u00a0issued a report that makes clear that companies can use social media outlets like Facebook<\/a> and Twitter<\/a> to announce key information in compliance with Regulation Fair Disclosure (Regulation FD) so long as investors have been alerted about which social media will be used to disseminate such information.<\/p>\n

JSE<\/strong><\/p>\n

Ranked amongst the top 20 exchanges worldwide in terms of Equity Market capitalisation,\u00a0the JSE in November celebrated 125 years of trading since it first opened its doors on 8 November 1887, a year after the gold rush in the Witwatersrand.<\/p>\n

The group uses its Stock Exchange News Service\u00a0(Sens)\u00a0to disseminate company results, and does have an account on Twitter. However, that is as far as the company is going at this stage on a docial platform.<\/p>\n

\u201cSENS is currently a highly effective and accepted way for receiving financial results and the JSE is currently not considering allowing companies to use social media to disclose their financial results,\u201d said Andre Visser<\/a>, general manager issuer regulation.<\/p>\n

\u201cListed companies are welcome to use social media to publish financial results in addition to using SENS. Of course companies can only make use of social media or any other media after information has been released on Sens,\u201d he said.<\/p>\n

\"JSE<\/a>

JSE Twitter information<\/p><\/div>\n

SEC<\/strong><\/p>\n

The SEC\u2019s report of investigation confirmed that Regulation FD applies to social media and other emerging means of communication used by public companies the same way it applies to company websites.<\/p>\n

The SEC issued guidance in 2008 clarifying that websites can serve as an effective means for disseminating information to investors if they\u2019ve been made aware that\u2019s where to look for it.<\/p>\n

\u201cOne set of shareholders should not be able to get a jump on other shareholders just because the company is selectively disclosing important information,\u201d said George Canellos<\/a>, acting director of the SEC\u2019s Division of Enforcement.<\/p>\n

\u201cMost social media are perfectly suitable methods for communicating with investors, but not if the access is restricted or if investors don\u2019t know that\u2019s where they need to turn to get the latest news.\u201d<\/p>\n

More on social media<\/h3>\n

Buffett talks social media and Bitcoin<\/strong><\/a><\/p>\n

Beware putting trust in Twitter<\/strong><\/a><\/p>\n

Twitter stepping closer to IPO?<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The JSE says it is not yet ready to allow companies to use social media to disclose their financial results.<\/p>\n","protected":false},"author":9,"featured_media":37075,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[45,26,4230,175,1362,1315,93],"class_list":["post-37514","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trending","tag-facebook","tag-headline","tag-johannesburg-stock-exchange","tag-jse","tag-sec","tag-securities-and-exchange-commission","tag-twitter"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/37514","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=37514"}],"version-history":[{"count":9,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/37514\/revisions"}],"predecessor-version":[{"id":37528,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/37514\/revisions\/37528"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/37075"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=37514"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=37514"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=37514"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}