Maybe, it’s high time for government agencies to get a crash course on social media.
Take the US Securities and Exchange Commission, for example. The regulatory body released a video featuring its chairman, Gary Gensler, talking about the agency’s outlook for 2022.
After touting his team of commissioners, Gensler then introduced the agency’s agenda for 2022. He highlighted that he’s “proud that this agenda is one that really helps to shift [the] capital markets more towards the investors on the one side and issuers on the other side.”
“[The agenda] tries to make that middle part more efficient,” Gensler said.
Then, Gensler called the stakeholders to give their feedback on the agenda for 2022.
“I look forward to proposals in climate risk disclosure, cyber risk disclosure…, and the human capital disclosure,” Gensler further said.
As we all know, and what SEC learned after the feedback call: be careful what you wish for. People on Twitter have been giving their feedback, but probably not what the agency had in mind–as most of the replies came from shareholders complaining about dark pools and PFOF.
Twitter user @talesftf referenced Tesla CEO Elon Musk in answering the feedback call. Musk has constantly been in a tangle with the regulatory agency, claiming that it leaks sensitive information. The latter also launched an investigation on Musk and his brother for alleged insider trading.
In due fairness to SEC, they have a link in their website where interested parties can actually submit proper comments on the body’s regulatory disclosures and rulemaking procedures.
But once again, the onlinesphere proved that hell hath no fury like Twitter.
Information for this briefing was found via Twitter. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.