The Securities and Exchange Commission continues to dip its toe into the social media waters, but it's doing so in such a cautious, disjointed way that it undermines the usefulness of powerful online communication tools.

The SEC's stumbling over social media are surprising, given the aptitude it has shown for online communication for the last several years. In securities enforcement, for example, the SEC's Website has been a tremendous source of information, and includes pages that list all of the agency's litigation releases, press releases, and administrative proceedings. This information is extremely useful, and lawyers, reporters, investors, and countless others ...