From the day we launched this blog in March, we’ve received plenty of feedback on our policy of not publishing readers’ comments.
Most of you, it’s fair to say, wished we would change the policy. Well, I’ve got some news for you.
But first, some background.
There are good reasons why you don’t see a lot of investment companies venturing into this “social media” space. Due to the heavily regulated nature of our business, blogs can be a minefield for us.
Our blog is regulated by the Financial Industry Regulatory Authority (FINRA) and the Securities and Exchange Commission (SEC). FINRA requires that all of our communications with the public—with you, in other words—be fair and balanced.
We believe we’re obliged to apply the fair-and-balanced standard to readers’ comments as well. You may disagree, but that’s the position we take. It’s conservative, and, we think, appropriate. Also, while there’s no industry regulation around being polite and staying on topic, they are part of our company standards, and we ask that you observe them here.
Some readers have asked our bloggers for financial or investment advice. This is where the SEC comes in. Under the Investment Advisers Act of 1940, we can use this forum to discuss options and provide food for thought, but it can’t be used to give specific advice.
So now the big news you’ve been waiting for: From today forward, we will publish your comments on this blog.
Because of the regulatory concerns I’ve mentioned, however, we won’t publish all comments, and we won’t publish them right away. We’ll take some time to read and consider each comment, and we maintain the right to delete certain information, such as readers’ names and e-mail addresses. Likewise, we will not publish testimonials, specific advice about investing, or comments we consider abusive, unfair, or off-topic.
I hope you’ll read our commenting guidelines for a better sense of what’s permitted and what isn’t.
Initially, Vanguard’s decision to start a blog raised a few eyebrows. But staying on the sidelines and missing an opportunity to connect with you in this medium simply wasn’t an option. Already we’ve started to develop an engaged and loyal readership—and for that, we thank you. By publishing your comments, we hope to make the Vanguard Blog a richer and more rewarding experience for all of us.
One final note: If you need to talk to Vanguard about your accounts or any other client-service matter, please contact us directly.