Something Old, Something New: Securities Enforcement in the Age of Social Media (New York Law Journal)

New York Law Journal: Something Old, Something New: Securities Enforcement in the Age of Social Media. “At a time when breaking norms has become the new normal, the recent battle between Tesla’s charismatic chief executive, Elon Musk, and the Securities and Exchange Commission’s regulatory enforcers captured the attention of the public. Musk’s seemingly deliberate use of Twitter to pick a fight with the SEC, combined with his track record of fostering paradigm shifts in several industries, suggested to securities lawyers and white-collar practitioners that we would soon see something new under the sun. It was not to be. Although Musk himself has earned a reputation for being incredibly innovative, the SEC’s case against him was not. We believe the absence of innovation provides an important opportunity to consider the road not taken, at least not yet.”

Recode: How social media bots could tank your stock price

Recode: How social media bots could tank your stock price. “As the head of media intelligence firm Zignal Labs, former political strategist Josh Ginsberg has spent most of the past seven years helping clients understand what people were saying about them in their businesses in traditional media outlets and on social media. But then something weird happened. Earlier this year, Zignal’s data scientists started noticing ‘anomalies in our data’ that didn’t make sense, Ginsberg said on the latest episode of Recode Decode, hosted by Kara Swisher: People with murky identities whose posts got the engagement of mainstream influencers, and sudden spikes in activity around certain topics.”

Wired: Investors Join Calls For Facebook, Twitter To Take More Responsibility

Wired: Investors Join Calls For Facebook, Twitter To Take More Responsibility. “A BIG PENSION fund and an activist investment firm Thursday said they had filed shareholder proposals pushing Facebook and Twitter to take more responsibility for managing content on their platforms, including mistreatment of women, fake news, election interference, violence, and hate speech—in other words, the same issues that have kept social-media giants in the crosshairs for the past year.”

Bloomberg: Tencent-Backed Sogou Aims for Up to $585 Million in U.S. IPO

Bloomberg: Tencent-Backed Sogou Aims for Up to $585 Million in U.S. IPO. “Sogou Inc., the Chinese search engine backed by Tencent Holdings Ltd., aims to raise as much as $585 million in a U.S. initial public offering. The company, born from the Chinese media company Sohu.com Inc., is marketing 45 million American depositary shares for $11 to $13 apiece, according to a filing Friday with the U.S. Securities and Exchange Commission. Sogou said it intends to use the proceeds for research and development and sales and marketing.”

Wall Street Journal: SEC Weighs How to Protect Vast Trading Database From Hackers

Wall Street Journal: SEC Weighs How to Protect Vast Trading Database From Hackers. “U.S. regulators, already grappling with defending their systems against hackers, are taking a fresh look at how to protect a vast database of stock-market trades that promises to be an even bigger target of cyberthieves. The Consolidated Audit Trail, which is scheduled to begin receiving data in November, would keep track of every trade and order in U.S. stock and option markets. Securities and Exchange Commission Chairman Jay Clayton is assessing the type of information reported to the CAT, according to testimony prepared for a House hearing on Wednesday.”

Motley Fool: Snap Inc. Isn’t the Next Twitter — It’s Much Worse

Motley Fool: Snap Inc. Isn’t the Next Twitter — It’s Much Worse. “Shares of Snap are already down 46% from their peak just a few months ago. User growth is slowing, costs are exploding, and the company doesn’t seem to be able to combat Facebook’s relentless copying of Snapchat’s core features. Snap looks a lot like Twitter, in other words, and not a whole lot like Facebook. But I don’t think Snap is the next Twitter. It’s much worse.”