The Securities and Exchange Commission has set up a Twitter account to report news, careers, and investor education. The SEC plans to use Twitter to better explain why they are taking certain actions.
Mary Schapiro, the new chief of the SEC announced the Twitter accounts at the Society of American Business Editors and Writers conference in Denver yesterday. The SEC is currently investigating over 150 hedge funds for Ponzi schemes and misappropriations.
“In real ways, the SEC has not been where investors most need it,” stated Schapiro. “I’ve let it be known far and wide that things must change.”