Comment Re:How is archival of this data managed? (Score 1) 71
Couple of years ago I co-founded a SaaS company that provides tools to public companies to manage their web site. What makes our system very unique is that it captures a detailed record of the public web site and allows internal users to "timeshift" to view and report on the site at any point in time. Like the Wayback machine (www.archive.org) but with no time gaps.
We've found that alot of public companies are looking for a way to maintain an accurate record of what they are disclosing to the public. Some are using our product and others are using a combination of paid/open source CMS's along with manual processes.
In general I've found that most companies want a record to help protect themselves against false claims by external people "I invested because of something on your site" and also so that they have a record if there is an error and how to correct it. Most companies do not view the record as the smoking gun because they are confident in their disclosure process.
Over the last couple of years there I've only met one company that wasn't interested in maintaining an record. He said "i don't want a record of what I say because it's not always exactly true" - this was early on and is certainly the minority.
With this latest guidance I think it's clear that companies will be looking for more efficient ways to maintain records of what they're disclosing - for their own protection, rather than methods for how to deceive the public.
