Hiya Tom,
As you know I’m working in the area of Information Lifecycle Management and
data retention/availability legislation. When reading the Sarbanes Oxley
(SOX) act of 202 and I realised that the following aspect of the law effects
your business (dramatically)…
SOX applies to all US companies which are quoted on any of the US securities
exchanges and relates to the controls and processes involved in their
financial reporting mechanisms.
Section 409 of SOX (SOX409), which is not yet in force, will soon require
real-time public disclosure of all events that could materially affect
company financial performance. To comply with this rule, companies will
first have to recognize in real-time that significant events have taken
place (e.g., a cash-flow problem), and then get that information into a
public reporting system.
The implication for your business is obvious. Both US companies and European
subsidiaries of these companies MUST provide real-time press releases and
public dissemination of all information which COULD impact on the company’s
financial performance. NOBODY to my knowledge is developing a PR system
specifically catering to this need. I can provide some useful contacts for
you if you wish to follow this up. I may even be able to refer you some
business or provide some SOX consulting 😉
More information on SOX available @ http://www.sarbanes-oxley.com/
Sincerest regards,
…shane
//=============================
// Shane Dempsey
// Technical Director,
// Gaisan Technologies Ltd.
// e: sdempsey@gaisan.com
// u: http://www.gaisan.com
// t: +353 051 844810
//=============================