The years since the U.S. Securities and Exchange Commission introduced Regulation FD have been marked by remarkable developments in technology. Between 2000 and the present, investors have logged onto Facebook and Twitter, called-in trades on smartphones, and checked quotes on tablets. Publicly traded companies have embraced technology. Most corporate web sites include an investor relations…
Author: Erica Berman
Regulation FD & Social Media: Part I — Background
Fifteen years ago, the U.S. Securities and Exchange Commission established Regulation FD, 17 C.F.R. § 243 – a rule intended to combat the practice of “selective disclosure” of key information to analysts or institutional investors before it is announced to the general public.1 Under Regulation FD, where an issuer “discloses material nonpublic information” to certain…