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The Securities and Exchange Commission published guidance regarding the use of company web sites under the Exchange Act and the antifraud provisions of the federal securities laws, effective August 7, 2008. The interpretive release focuses on when information posted on a company web site is "public," liability for information on company web sites, controls and procedures with respect to such information, and the format of information presented.

Pryor Cashman partner Edward C. Normandin and associate Robert C. Lamonica have written an informative Legal Update about the guidance. To read that Legal Update, entitled "SEC Issues Important Guidance on the Use of Company Web Sites," please click here.