Sun Microsystems Wants to Disclose Financial Information through Blogs

I saw this interesting piece of news in Baltimore Sun. Sun Microsystems CEO Jonathan Schwarth has asked the SEC in th US to let significant financial information be disclosed through blogs.

Jonathan I. Schwartz, avid blogger and chief executive of Sun Microsystems Inc., has asked the Securities and Exchange Commission to allow companies to disclose significant financial information through blogs.

With a growing number of major companies now publishing corporate blogs, or online diaries, and an SEC chairman with a penchant for technological innovation, Schwartz is making the case for blogs - including his on the Sun Miscrosystems Web site - as a way to expand investors' access to information.

The SEC position is that current regulations do allow for blogs, such as news releases, regulatory filings, Web sites and Webcasts, to be used to disseminate companies' financial information, provided a particular blog reaches a broad audience.