I'm going to open up for discussion the topic of Compensated Users posting on iHub.
My primary goal is to clean up iHub to where it is made clear who is compensated to post and who is not and bring back a friendly atmosphere.
Our initial plan includes charging a significantly higher rate for users who are compensated to post or otherwise promote specific stocks.
I've picked the name Investor Relations Professional (IRP) as what we're going to refer to this type of user as. Feel free to suggest others.
How it will work:
At any time that a user is classified as an IRP there will be a special icon designating that in their profiles and posts (alias colored?, any other ideas?). Maybe a golden triangle of some sort with an attached explanation. It will also link to a "My Disclosures" page where the user can input their affiliations and compensation details." That will include a place for them to make any legally required notices and disclaimers, and the presence of a disclaimer will be noted on their posts and profile.
We are not out to demonize IRPs. We consider this to be a win-win situation for both IRPs and readers. This is more about disclosure - letting them "advertise" their professional bona fides while at the same time letting readers be aware they are compensated.
Anybody that we know or find out is compensated to post on iHub will be reaquired to become an IRP on iHub; if caught not disclosing/elevating status during promotion, strong Administrative action will be taken against them. I promise it won't be good for business. :)
We'll encourage users to notify ME of those not in compliance -- links to disclosure/compensation will be needed, not just "I think.." or "I believe." -- all of which needs to be sent to Matt for review/research.
No special TOU for IRPs; all posts must comply with normal TOU. Their compensation as it relates directly to the company is on topic. They still can not be attacked personally.
IRPs will allowed to Moderate boards and are subject to the same duties and limitations as any other moderator when moderating stock-specific boards..
Display a list of IRPs, with information on what it means. We will advise that we cannot guarantee accuracy or that everybody on the site is disclosing, etc.
Biggest potential issue is forcing people into not disclosing – fine, they can be deal with the SEC/Feds.
Keep in mind, this is a start. I'm opening this for discussion with you guys because we recognize there is a problem. I don't know where all of this may lead to, but I think it's a nice way to start tackling some of the issues.
Comments welcome. :)
