Make no mistake, the Securities & Exchange Commission has a lot on its plate right now—from the JOBS Act, to combatting insider trading to a number of other things. With that in mind, getting their rules and regulations up-to-date during a time in which the technological landscape is changing drastically probably isn’t their highest priority. As a result, incidents like the one between the SEC and Netflix and its CEO tend to happen. See, Netflix CEO Reed Hastings shared a bit of news via a Facebook post; the SEC labeled it as “selective disclosure” and is now going after both Netflix and Hastings.
Joining me now to explain what happened and why the SEC needs to adjust more than individuals do is Robert White, Jr. of Gunster and their blog, The Securities Edge.
