Believe it or not, prior to 1977, taxpayer information was considered public record and the rules regarding disclosure were left to the Executive branch (report downloads as a pdf).
The SEC thinks Hastings broke disclosurerules (Reg FD) that say companies must make material information available to all investors simultaneously via SEC filing or press release.
The agency said Netflix and Mr. Hastings seemed to run afoul of fair-disclosure rules because they hadn't previously used Facebook to announce important information and hadn't told the public the page could be such an outlet.
This could result in foreign firms revealing more information, though it would amount to enforcement of existing rules rather than an expansion of disclosure requirements.
There are long-standing rules governing the disclosure of secret evidence because of the risk of compromising sources or revealing how information is gathered.