NEW YORK, May 13, 2013 /PRNewswire/ -- In the aftermath of the SEC's April 2 statement that social media can be used by public companies in their investor relations communications, KCSA Strategic Communications (www.kcsa.com), announced that the firm has formed an IR consulting group dedicated to helping public companies develop social media policies to ensure compliance with Regulation Fair Disclosure (Reg FD). The group will be led by KCSA's CEO, Jeff Corbin, who is the author of "Investor Relations: The Art of Communicating Value," 2012 Thomson Reuters/Aspatore.
Since the April 2 announcement, Corbin has taken an active role in advocating for further clarity from the SEC on what steps public companies should take to incorporate social media into their IR communications. In addition to corresponding with the SEC, Corbin has written articles for publications and has been sourced on this topic in media outlets that include The Wall Street Journal, Inside Investor Relations, Bloomberg, FOX News and PR Week, among others. He also recently participated in a panel discussion hosted by CommPRO.biz with other leading industry experts, including the NYSE/Euronext, NASDAQ and major newswire services.
Commenting on the formation of the specialty group, Corbin said, "The statement made by the SEC in early April – that public companies can now communicate material news via social media channels – is a game-changing development in the investor relations industry; the scale of which we have not seen in many years. The extent of the implications is currently unfolding as the regulatory body gave no guidance on the subject other than to say that social media can now be used to disclose material news."
He continued, "As a result of the announcement, many companies are now struggling to determine how and whether to use social media in their IR communications efforts. Given the lack of clarity from the SEC, companies are now considering which channels to use – Twitter, Facebook, Stockr, Blogs, etc. Until the SEC provides further direction, the channel is not what companies should be focusing on. Rather, companies should conduct social media audits to determine whether or not their investors are engaging via social media. Once this has taken place, they should then develop a social media policy that dictates specifically how the company intends to utilize social media in its communications. The important thing to keep in mind is that social media is only a means to accomplishing an end. The end, of course, is compliance with Reg FD."
Corbin concluded, "KCSA has consulted with hundreds of public companies over the years and has helped them put into place best practices for their IR communications. Given the uncertainty that exists across corporate America as to what a company should and shouldn't do when using social media, our social media IR policy practice group will help public companies navigate this new terrain, determine how to engage in social media and create policies that will ensure compliance with Reg FD. We will also continue to advocate on behalf of the use of social media as a means to connect with investors and hopefully encourage the SEC to provide more specific guidelines on its use."
About KCSA Strategic Communications
KCSA is a fully-integrated communications agency specializing in public relations, investor relations and marketing with expertise in financial and professional services, technology, healthcare, media, energy and public services companies. Since 1969, the firm has demonstrated strategic thinking and program execution that drives results for its clients in the ever-changing communications and digital landscape. The firm's clients are its best references. For more information, please visit www.kcsa.com.
KCSA Strategic Communications
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