SEC Issues New Guidance on the Use of Social Media
Time 1 Minute Read
Categories: Online Privacy

On April 21, 2014, the Securities and Exchange Commission’s Division of Corporation Finance published new Compliance and Disclosure Interpretations (“C&DIs”) concerning the use of social media in certain securities offerings, business combinations and proxy contests. Notably, the C&DIs permit the use of an active hyperlink to satisfy the cautionary legend requirements in social media communications when the social media platform limits the text or number of characters that may be included (e.g., Twitter). The C&DIs also clarify that postings or messages re-transmitted by unrelated third parties generally will not be attributable to the issuer (so issuers will not be required to ensure that third parties comply with the guidance). In addition, requirements regarding cautionary legends contemplated by the C&DIs apply to both issuers and other soliciting parties in proxy fights or tender offers. Accordingly, although the new guidance will allow issuers to communicate with their shareholders and potential investors via social media, it also may prove useful to activists in proxy fights and tender offers.

Read the full client alert on the SEC’s new C&DIs.

You May Also Be Interested In

Time 2 Minute Read

On March 3, 2026, the Virginia Attorney General appealed a federal court’s grant of a preliminary injunction barring the enforcement of a new Virginia law requiring age verification and a time limit on social media use by minors under the age of 16 pending a final determination on the merits.    

Time 2 Minute Read

On February 23, 2026, a Joint Statement on AI-Generated Imagery was published by 61 data protection authorities. The Joint Statement addresses concerns regarding AI systems capable of generating realistic images and videos depicting identifiable individuals without their knowledge or consent.

Time 2 Minute Read

On February 18, 2026, Virginia Attorney General Jay Jones announced that his office intends to fully enforce new provisions of the Virginia Consumer Data Protection Act restricting minors’ use of social media.

Time 2 Minute Read

In mid-January 2026, key Senate committees published discussion drafts of market structure legislation for comprehensive federal regulation of digital assets. The Senate Banking Committee’s version of the bill is called the “Digital Asset Market Clarity Act.”  The Senate Agriculture Committee’s version of the bill is called the “Digital Commodity Intermediaries Act.”

Search

Subscribe Arrow

Recent Posts

Categories

Tags

Archives

Jump to Page