Tell the SEC: Individual Investors Deserve More Information, Not Less
The SEC wants to potentially cut in half your information flow from the companies you own. You have until July 6 to fight back. Save the 10-Q!
Tell the SEC: Individual Investors Deserve More Information, Not Less
Overview
At the start of the century, The Motley Fool community helped change federal securities law.
When the SEC proposed Regulation Fair Disclosure (Reg FD) – requiring companies to stop feeding material information to Wall Street analysts before sharing it with the general public, including everyday investors like us Fools – institutional money fought back hard. The big firms liked the arrangement just fine. Individual investors needed a champion.
Details
The Motley Fool mobilized its community. The SEC received the largest volume of public comment letters it had seen to that point. Sixty-five percent of those letters came from Fools. SEC Chairman Arthur Levitt personally visited Fool HQ afterward. Reg FD passed. Chairman Levitt later said, "Two-thirds of our letters came from Fools. Without them, Reg FD would not have happened."
Source
Originally published at www.fool.com.
