Issuer’s need online disclosure record

This article on IR Web Report was interesting from a number of view points. Obviously issuers need to pay attention to the navigation, structure and content of their web sites in order to meet the expectations of the investment community and make it easier for users to access information.  Also, even though a company may think they are handling their online disclosure appropriately, the fact that users can move through information on the web in a myriad of ways (not only in the order it was meant to be presented in – as in turning the pages of a book) means that the company loses control over the impression they create. So even if their core documents are airtight, they may be presenting information outside of core documents that unwittingly provide an unintended impression. And according to Civil Liability legislation, this information can still be considered material if the content impacts share value or transfer).

Not only do issuers need to work with consultants who understand what to communicate and how to layer content effectively, but they also need to capture a record of their online communications. This record needs to include what was said, who approved it, when and where the information appeared and the context in which the information was presented. Q4 Web Systems is the only company that provides an automatic record within its IR web solutions.

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