Mary Schapiro, chief of the Securities and Exchange Commission (SEC) now for 3 months, wants to use Twitter to raise SEC transparency with the general public—sort of the opposite of a financial Ponzi scheme.
That’s right- the United States Securities and Exchange Commission is on Twitter.
The largest SEC Twitter account is @SEC_Investor_Ed. Over 1600 Followers at the time of this post.
According the LA Times, Schapiro recently told the Society of American Business Editors and Writers that the SEC will expand its Twitter presence.
“In real ways, the SEC has not been where investors most need it. I’ve let it be known far and wide that things must change,” said Schapiro.
The American SEC (Security Exchange Commission) is doing everything it can to investigate what went wrong in the U.S. economy and on Wall Street and figure out how to stop it from happening in the future.
Things like credit default swaps were so complicated and complex that no one understood them—and the SEC is looking to Twitter as one way to make sure that the general public understands what they are doing now.
I have written about how Twitter is being used by the CDC as part of the public awareness campaign around the recent swine flu scare and how both police and firefighting units are using Twitter as part of their emergency communication strategy.
In addition to lending increased relevance and status to Twitter as a social media entity, seeing government agencies use Twitter as a legitimate and even necessary communication tool represents a significant shift in what social media means. Twitter began as a way for people to connect, has grown into a full-blown media and business outlet, and if the recent developments are indicative, Twitter will begin to grow in importance as the U.S. government redefines its role in 21st century America. Now president Barack Obama used Twitter as part of his campaign- the SEC is using Twitter to rebuild its reputation.
I would love to hear where and how you think Twitter will expand next.