The purpose of such a voluntary disclosure is to avoid a criminal prosecution of the taxpayer, and to bring the taxpayer into tax compliance with a minimum of monetary penalties.

FORBES: Representation Before the IRS

The SEC's latest report clarified that disclosure of material nonpublic information on the personal social media site of an individual corporate officer without advance notice to investors that the site may be used for this purpose is unlikely to qualify as an acceptable method of disclosure under securities laws.

WSJ: SEC Says Companies Can Use Social Media to Alert Investors