SEC Keeps Companies Talking Equally to Investors
Published Date: 4/8/2025
Notice
Summary
The SEC is asking to keep the rules for how companies share important news with the public, making sure everyone hears it at the same time. About 7,200 companies follow these rules, spending around 5 hours each time they share info, adding up to a lot of work every year. The SEC wants your thoughts on how to keep this process clear and easy, with no changes to costs or deadlines right now.
Analyzed Economic Effects
2 provisions identified: 1 benefits, 1 costs, 0 mixed.
Public companies face ongoing disclosure burden
If you run a publicly traded company, Regulation FD requires public disclosure of material information and the SEC estimates about 7,196 issuers make Regulation FD disclosures roughly five times a year for a total of 19,274 responses. The agency estimates each response takes about 5 hours (19,274 responses × 5 hours = 96,370 hours annually) and that 75% of that time (72,278 hours) is internal staff time.
Investors get prompt public access to news
If you invest in publicly traded companies, Regulation FD requires companies to make material information public rather than selectively disclosing it, so investors have current information to base investment decisions. The rule also requires prompt public disclosure when material information was unintentionally selectively disclosed.
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Key Dates
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