What are the disclosure rules about blogging about stocks you own? | Bloggers Lair | Yakezie Forums

I'm working on my first investing post, and I notice a lot of disclosures at the end of posts about stocks that say the blogger owns xyz stock or doesn't own any of the stocks mentioned. Does anyone know what the disclosure rules are when it comes to this?

The whole point of my post is how I decided to buy certain stocks, so I think it will be pretty obvious that I own them, but I'm wading into uncharted waters for my blog here so I'd love some feedback.

KNS Financial said:

The only thing I've ever seen is the author stating that they own the stock. That doesn't mean that they were following the rules, but I've read a ton of investment articles over the years, and I don't recall seeing anything stronger than, "I own shares of XYZ Corp".

Thanks, KNS.

I agree. If I wrote a post about a stock that I owned, I would mention it at the bottom of the post.

Thanks all.

Actually, the whole post is about my first steps into dividend investing and how I chose the stocks I did. In other words, the whole post is a disclosure. I'll see if I can come up with some wording for an actual disclosure that doesn't make me sound like a total idiot for repeating myself.

Suba @ Wealth Informatics said:

This is one place I wouldn't mind overdoing. We are a in a sue happy society where you have to put a disclaimer that coffee is hot.

 

I would CLEARLY say that "Please note that this is just my opinion and not an advice/recommendation. I am not a financial adviser. I am not qualified to give financial advice. Before you buy any stocks/funds consult with a qualified financial planner. Make your decision at your own risk." Just my 2c.

Awesome wording, Suba. I'm going to steal it when I'm ready to post. Thanks!

JT_McGee said:

AccountantByDay said:

Also, I don't know how successful someone could be in court if they said "But I read on TheFamilyCEO.com that Julie bought these stocks, so I bought them too and they lost money so I'm suing her" but if you have a disclaimer up, it adds just another layer of protection.

Just a friendly reminder that even if you win in court, you still lose with the costs of showing up. 

 

And, no matter how many layers of protection you have, anyone can sue for anything.  It's hard to get a case tossed as frivolous.

All this talk about liability brings up a good question. Doctors have malpractice insurance, insurance agents (and probably other professionals) have errors and omissions insurance. I wonder if there's some kind of insurance policy designed especially for writers or bloggers?

The Family CEO said:

All this talk about liability brings up a good question. Doctors have malpractice insurance, insurance agents (and probably other professionals) have errors and omissions insurance. I wonder if there's some kind of insurance policy designed especially for writers or bloggers?

They do have media liability insurance especially for bloggers and writers. If you don't make money from your blog you might be covered by your homeowner's insurance. If your blog is a business you should have business liability insurance.  Also if you set up your business as an LLC you can get some protection.  Smart Passive Income recently had a blog post on how to protect your blog's assets that has good information on how to set up your blog business and how to transact your business to help protect you from lawsuits.  I haven't implemented all the suggestions yet but this is on my to do list for next month.

I mostly write about investments and I have a disclosure on my site:

"All content posted on this blog represents my opinion and views and should never be considered professional advice. You should do your own research and consult with a professional financial advisor before making any investment decisions."

And then I usually disclose what stocks I own mostly because it highlights whether you can benefit from it or not. I can't say that I have been consistent with my disclosure and I should. I have my disclaimer in multiple places as well.

I have not talked to a lawyer but I am sure I would end up with a disclosure as long as any financial advisor even though I am not … What I write is mostly my reflection and views and I never recommend anything. Again, I have picked up those disclosure habits from bigger investing blogs.