TV Star Could Face Federal Probe in Editorial Debut
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When it comes to writing for a magazine about stocks or investments, it's common knowledge to disclose any significant interest, economic ties, or other connection (board member?) to the company or companies written about.
And that extends to men's magazines.
According to reports, actor Ashton Kutcher, who took over for Charlie Sheen on Two and a Half Men following his meltdown, may be in trouble with the U.S. FTC and possibly SEC. Kutcher was recently allowed to be editor of the online-only editor of Details magazine, a publication dedicated to the betterment of young and middle-aged men.
In the publication, there is a section dedicated to the "New Titans of Tech," which also might be lost in translation as the article talks only about Airbnb, Foursquare, Flipboard, and Quora (note: we don't have any interest, economic or otherwise, in the preceding four start-ups). Kutcher is evidently an investor in Foursquare, Flipboard, and Airbnb, but the article doesn't say that anywhere.
This becomes a problem in the FTC's eyes, which requires full disclosure. Anything other may "potentially affect the credibility of your investment," Richard Cleland of the FTC told the NYTimes recently. Though he didn't comment whether Kutcher would be investigated, he hinted at a possibility.
Kutcher's investment in the tech companies is only disclosed in an intro, which states he "puts his money where his mouth is, backing many of the companies he champions here." But that might not be disclosure enough for federal authorities.
Should the companies plan on raising more money soon through an IPO... was Kutcher aware of it? Also, if shares are traded on the secondary market, the SEC has regulation over that as well despite companies not being formally registered for stock trading.
Either way, whether Kutcher's editing of Details magazine will have enough clout to benefit Silicon Valley start-ups is arguable. Still, its an important point to consider for potential bloggers.
And that extends to men's magazines.
According to reports, actor Ashton Kutcher, who took over for Charlie Sheen on Two and a Half Men following his meltdown, may be in trouble with the U.S. FTC and possibly SEC. Kutcher was recently allowed to be editor of the online-only editor of Details magazine, a publication dedicated to the betterment of young and middle-aged men.
In the publication, there is a section dedicated to the "New Titans of Tech," which also might be lost in translation as the article talks only about Airbnb, Foursquare, Flipboard, and Quora (note: we don't have any interest, economic or otherwise, in the preceding four start-ups). Kutcher is evidently an investor in Foursquare, Flipboard, and Airbnb, but the article doesn't say that anywhere.
This becomes a problem in the FTC's eyes, which requires full disclosure. Anything other may "potentially affect the credibility of your investment," Richard Cleland of the FTC told the NYTimes recently. Though he didn't comment whether Kutcher would be investigated, he hinted at a possibility.
Kutcher's investment in the tech companies is only disclosed in an intro, which states he "puts his money where his mouth is, backing many of the companies he champions here." But that might not be disclosure enough for federal authorities.
Should the companies plan on raising more money soon through an IPO... was Kutcher aware of it? Also, if shares are traded on the secondary market, the SEC has regulation over that as well despite companies not being formally registered for stock trading.
Either way, whether Kutcher's editing of Details magazine will have enough clout to benefit Silicon Valley start-ups is arguable. Still, its an important point to consider for potential bloggers.
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