|
|
Article: Why disclosure shouldn't be selective.(Industry Trend or Event)(Editorial)
- Article from:
- Electronic Business
- Article date:
- October 1, 2000
- Author:
CopyrightCOPYRIGHT 2000 Reed Business Information, Inc. (US). This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
As children, we all loved secrets. Belonging to a club or clique gave us an identity and status, or so we thought. And everyone wants to be a confidant.
So it's not surprising that Wall Street, one of the clubbiest places on earth, is outraged that its status as special confidant to corporate America has been revoked. In mid-August, the Securities and Exchange Commission (SEC) made good on its earlier promise to enact a new rule that requires companies to disclose market-moving information publicly at the same time that it is shared with investment professionals, including analysts, money managers and large institutional investors. The intention of the rule, ...