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Keeping Current: Securities

Are Your Regulation FD Compliance Procedures Sufficient?

January/February 2010
Business Law Today

During late September, the Securities and Exchange Commission settled a civil action relating to a violation of Regulation FD, which prohibits selective disclosure by public companies of material nonpublic information. Regulation FD actions are fairly infrequent, this being the first since 2007, and one of only a handful since Regulation FD was adopted in 2000. The moral of this particular tale is that thoughtful Regulation FD compliance policies and procedures can help to mitigate the consequences of a violation, which in this case avoided making a bad week even worse.