Fair Disclosure, Regulation FD

On August 15, 2000, the SEC Regulation FD to address the selective disclosure of information by publicly traded companies and other issuers. Regulation FD provides that when an issuer discloses material nonpublic information to certain individuals or entities—generally, securities market professionals, such as stock analysts, or holders of the issuer's securities who may well trade on the basis of the information—the issuer must make public disclosure of that information. In this way, the new rule aims to promote the full and fair disclosure.

For more information, including the history of Regulation FD and a link to staff interpretations, please visit Selective Disclosure (Reg. FD) in the archives section of our Spotlight page.