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Selective Disclosure
Selective disclosure is a situation when a publicly traded company discloses material information to a single person, or a limited group of people or investors, as opposed to disclosing the information to all investors at the same time. Material information is roughly defined as information that would cause a reasonable investor to make a buy or sell decision. A problem with selective disclosure that the U.S. Securities and Exchange Commission (SEC) sought to eliminate with Regulation Fair Disclosure(a.k.a. Regulation FD or Reg FD), is that it creates an uneven playing field for investors, allowing some investors to profit from material market moving information before others. An example of a selective disclosure could go as follows: A company insider tells a small group of Wall Street analysts that the company is going to beat current analyst consensus estimates for earnings per share. If this is the first time the company disclosed such guidance Guidance may refer to: Arts an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Material Information
Material is a substance or mixture of substances that constitutes an object. Materials can be pure or impure, living or non-living matter. Materials can be classified on the basis of their physical and chemical properties, or on their geological origin or biological function. Materials science is the study of materials, their properties and their applications. Raw materials can be processed in different ways to influence their properties, by purification, shaping or the introduction of other materials. New materials can be produced from raw materials by synthesis. In industry, materials are inputs to manufacturing processes to produce products or more complex materials. Historical elements Materials chart the history of humanity. The system of the three prehistoric ages (Stone Age, Bronze Age, Iron Age) were succeeded by historical ages: steel age in the 19th century, polymer age in the middle of the following century (plastic age) and silicon age in the second half of the 20 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Regulation Fair Disclosure
Regulation FD (Fair Disclosure), Retrieved January 25, 2011. ordinarily referred to as Regulation FD or Reg FD, is a regulation that was promulgated by the (SEC) in August 2000.Adoption of Final Rule Retrieved January 25, 2011. The regulation is codified as . Although "FD" stands for "fair disclosure," as can be learned from the adopting release, the regulation was and is codified in the Code of Federal Regulations simply as Regulation FD. Subject to certain li ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Regulation FD
Regulation FD (Fair Disclosure), Retrieved January 25, 2011. ordinarily referred to as Regulation FD or Reg FD, is a regulation that was promulgated by the (SEC) in August 2000.Adoption of Final Rule Retrieved January 25, 2011. The regulation is codified as . Although "FD" stands for "fair disclosure," as can be learned from the adopting release, the regulation was and is codified in the Code of Federal Regulations simply as Regulation FD. Subject to certain li ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reg FD
Regulation FD (Fair Disclosure), Retrieved January 25, 2011. ordinarily referred to as Regulation FD or Reg FD, is a regulation that was promulgated by the (SEC) in August 2000.Adoption of Final Rule Retrieved January 25, 2011. The regulation is codified as . Although "FD" stands for "fair disclosure," as can be learned from the adopting release, the regulation was and is codified in the Code of Federal Regulations simply as Regulation FD. Subject to certain ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Market Moving Information
Market moving information is a term used in stock market investing, defined as information that would cause any reasonable investor to make a buy or sell decision. It is also sometimes referred to as material information. When a public company insider fails to publicly disclose material, market moving information to everyone and only to certain parties, that is called selective disclosure, an act that is prohibited by the Securities Exchange Commission's Regulation FD. Many types of events can be considered market moving information. A bad freeze in Florida can cause the price of orange juice to increase. An expected drought in the Midwest might cause corn or soybean prices to rise on fears of poor crop outputs and limited supplies. Statements by certain figures might also be market moving information. For instance, Elon Musk was fined by the SEC in 2018 for tweeting that he had secured investment funding sufficient to take Tesla, Inc. Tesla, Inc. ( or ) is an A ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Earnings Guidance
In financial reporting, earnings guidance or simply guidance is a publicly traded corporation's official prediction of its own near-future profit or loss, stated as an amount of money per share; see Earnings call. Earnings guidance is usually a financial forecast presented as a quarterly report of the corporation's performance in the next quarter. Guidance is an aid to financial analysts and the stock market in valuing the corporation, and helps prevent overvaluation. According to Investopedia, Guidance refers to Information that a company provides as an indication or estimate of its future earnings. Guidance reports estimating a company's future earnings have some influence over analyst stock ratings and investor decisions to buy, hold, or sell the security. In the United States, a quarterly revenue forecast, or quarterly guidance, by publicly traded companies had become by the 2000s both a common practice (75% of American firms in 2003) and a major influence on the firm's ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Insider Trading
Insider trading is the trading of a public company's stock or other securities (such as bonds or stock options) based on material, nonpublic information about the company. In various countries, some kinds of trading based on insider information is illegal. This is because it is seen as unfair to other investors who do not have access to the information, as the investor with insider information could potentially make larger profits than a typical investor could make. The rules governing insider trading are complex and vary significantly from country to country. The extent of enforcement also varies from one country to another. The definition of insider in one jurisdiction can be broad, and may cover not only insiders themselves but also any persons related to them, such as brokers, associates, and even family members. A person who becomes aware of non-public information and trades on that basis may be guilty of a crime. Trading by specific insiders, such as employees, is commonl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |