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Non-Tech : Meet Gene, a NASDAQ Market Maker -- Ignore unavailable to you. Want to Upgrade?

To: LPS5 who wrote (463)	8/5/2000 9:07:36 PM
From: Wayners	Read Replies (1) \| Respond to of 1426

Rampant simply means getting worse quickly and uncontrollably. Here's the SEC's own words on the matter with emphasis: "Detrimental Effects of Selective Disclosure on Public Markets The Commission has become increasingly concerned about the growing incidence of "selective disclosure" of material corporate information. In many reported incidents, companies selectively disclosed important information – such as upcoming earnings figures – in conference calls or meetings that are open only to selected securities analysts and/or institutional investors, and which exclude members of the public and the media. Those privy to selectively disclosed information have an unfair advantage over other investors, who learn of the information only if and when the issuer later makes full public disclosure. By that time, the information often has resulted in a significant change in the share price or higher than usual trading volume. Selective disclosure undermines investor confidence in the integrity of our securities markets, and creates a serious potential for conflicts of interest by securities analysts. Chairman Levitt characterized this behind-the-scenes dissemination of information to analysts in his speech, Quality Information: The Lifeblood of Our Markets, before the New York Economic Club, as "a stain on our markets."