New government rules are opening the door to more compelling financial reports.

Well before the Securities & Exchange Commission adopted the new "Internet Availability of Proxy Materials" ruling in January, publicly traded companies were injecting more promotional language into their annual reports.

The new rule allows for posting proxy statements/annual reports online, instead of mailing hard copies. It even encourages issuers to provide more interactivity, so financial communicators have more to work with.

According to a survey last year, well before the SEC ...