Joe, re: Selective disclosure
Following is the proposed regulation FD:
Regulation FD (Fair Disclosure), a new issuer disclosure rule, deals with the problem of issuers making selective disclosure of material nonpublic information to analysts, institutional investors, or others, but not to the public at large. Although analysts play an important role in gathering and analyzing information, and disseminating their analysis to investors, we do not believe that allowing issuers to disclose material information selectively to analysts is in the best interests of investors or the securities markets generally. Instead, to the maximum extent practicable, we believe that all investors should have access to an issuer's material disclosures at the same time. Regulation FD, therefore, would require that: (1) when an issuer intentionally discloses material information, it do so through public disclosure, not through selective disclosure; and (2) whenever an issuer learns that it has made a non-intentional material selective disclosure, the issuer make prompt public disclosure of that information.
You can find that and the other proposed regulations and rules at:
edgar.sec.gov
Although the comment period is over for these rules, there is an e mail address for comments, and it can't hurt to voice your opinion.
The Internet means nothing if a selected group of individuals are allowed to get and selectivly disseminate material information before the general public get's wind of it. Why should Joe Osha know information about AMD before Joe Halada?
John |
