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!
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.