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Oh, I was addressing the question about how Quora is now, and if Twitter were like that.

• nknighthb 13y ago
  If Twitter had Quora's restrictions, it may or may not qualify as exclusionary, but it probably wouldn't be "reasonably designed to provide broad distribution" as rule FD requires, since its distribution would be far more limited. The whole point is to increase distribution. The SEC's guidance was incredibly boring and utterly unsurprising. It said nothing more than that disclosures on social media sites can be (but not necessarily are) in compliance with Rule FD, the relevant portion of which I've pasted below. It's not a grant of immunity to anyone who might seek to disclose material non-public information to a limited class of people. On the contrary, it reminded issuers of their responsibility to ensure wide distribution. """(e) Public disclosure. (1) Except as provided in paragraph (e)(2) of this section, an issuer shall make the ‘‘public disclosure’’ of information required by §243.100(a) by furnishing to or filing with the Commission a Form 8–K (17 CFR 249.308) disclosing that information. (2) An issuer shall be exempt from the requirement to furnish or file a Form 8–K if it instead disseminates the information through another method (or combination of methods) of disclosure that is reasonably designed to provide broad, non-exclusionary distribution of the information to the public."""