Mistakes, Inconsistencies and Outdated Data - Correcting Public Information About Your Company
Date: June 09, 2020
There are many places across the Internet where information about your company may be disclosed – and sometimes the information is wrong. Below is a brief review of some of the ways to correct factual company information across various platforms.
Yahoo! Finance and Google Finance
According to Yahoo! Finance FAQs, you should contact Capital IQ (email@example.com) and Morningstar (firstname.lastname@example.org) to request updates to your company’s information on Yahoo! Finance, and it could take up to 14 days for changes to appear on Yahoo! Finance. You can also report problems and provide feedback on the Yahoo! Finance Feedback Forum (also available by going to yahoo.uservoice.com and clicking on “Finance”), which requires a Yahoo! account. Posts on the forum are public, and other users are able to view and comment on posts.
Google Finance, unlike Yahoo! Finance, does not include much information about companies beyond certain financial information. Google Finance pages have a “send feedback” link at the bottom left that you can use to report any issues.
As the financial websites usually aggregate company information from multiple sources, including company press releases, including an “About Us” paragraph in company press releases can also help to keep the information current.
SEC EDGAR Profile
Sometimes you may need to change information on EDGAR, the Securities and Exchange Commission’s (“SEC”) website – for instance, your company’s name has changed or offices have moved, or you need to change the SEC contact person’s email. First, you will need to make sure you have your company’s CIK, CCC and password. After gathering those, you can log in to the EDGAR filing site using your company’s CIK and password. From there, to edit your company’s profile, select “Retrieve/Edit Data,” input your company’s CIK and CCC, and select “Retrieve Company Information.” (If your company is registered as a broker-dealer or a filing agent, you may need to follow different steps for certain changes, which are described in the SEC’s EDGAR Filer Technical Support FAQ.) Any changes you make will not appear on EDGAR until after your company makes its next public filing with the SEC.
If your company has changed its stock ticker symbol, you should email email@example.com with the new ticker symbol and the company’s CIK code.
If your company is quoted on the OTC Markets, you can update your company’s information following the instructions under “Update your company profile,” which is available under the “Corporate Services—Products—OTCIQ” tab.
ISS and Glass Lewis Proxy Advisory Reports
You have just received Institutional Shareholder Services (“ISS”) and Glass Lewis proxy advisory reports for your company – and you notice a factual error.
To report the error to ISS, you will need to visit the ISS Help Center (also available on the ISS home page, under “Help Center” at the top right of the page) and create an account. After logging in, you can report the error by selecting “Submit an Inquiry” and then choosing the option that best fits your situation. Per its FAQs (also available under the “Policy Gateway—Engagement on Proxy Research” tab), ISS will issue an “Alert” report to its clients if it agrees there is a material error that should be brought to their attention.
Glass Lewis’s process is more straightforward – you can click the “Report an Error” button under the “Issuers—Report an Error or Omission” tab and submit your error by following the guidelines included on the webpage. Glass Lewis will notify certain clients when a report is updated to reflect new disclosure or the correction of an error.
Some companies qualify and may register with ISS and/or Glass Lewis to review advance copies of the reports or factual information to be included in the reports before they are issued. The ISS registration process is described under “ISS Draft Review Process for U.S. Issuers,” and you can find a brief summary under the ISS FAQs under the “Policy Gateway—Engagement on Proxy Research” tab. You can register with Glass Lewis under the “Issuers—Scrutinize our Data with IDR” tab.
In any case, even if the error is not material, or you notice it after the relevant shareholder meeting takes place, you may still want to report it to ISS or Glass Lewis to try to ensure it is not repeated in future reports.
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