Document Type
Book Chapter
Publication Date
2013
Abstract
This chapter traces the development of the SEC’s use of Regulation Fair Disclosure (FD) to address information asymmetry in the securities markets. The chapter describes the SEC’s developing enforcement policy and notes, in particular, the SEC’s efforts, through its selection and settlement of Regulation FD cases, to provide guidance to corporations and corporate officials about areas of key concern. The chapter concludes by highlighting current areas of particular importance, including disclosure of information through private meetings and the implications of technological innovations such as the internet and social media. The chapter is forthcoming in Research Handbook on Insider Trading (Stephen Bainbridge, editor).
Keywords
Securities law and regulation, insider trading, Regulation Fair Disclosure, Regulation FD, Reg FD, Chiarella, Dirks, information asymmetry, federal securities fraud, materiality, selective disclosure practices, Siebel Systems, Office Depot, information flow and quality, technology, social computing
Publication Title
Research Handbook on Insider Trading
Repository Citation
Fisch, Jill E., "Regulation FD: An Alternative Approach to Addressing Information Asymmetry" (2013). All Faculty Scholarship. 407.
https://scholarship.law.upenn.edu/faculty_scholarship/407
Included in
Administrative Law Commons, Business and Corporate Communications Commons, Business Organizations Law Commons, Corporate Finance Commons, Science and Technology Law Commons, Securities Law Commons
Publication Citation
in Research Handbook on Insider Trading (Stephen Bainbridge, ed., Elgar 2013).