SEC Proposes Rethink on the Way Companies Report

US Securities and Exchange Commission (SEC) has launched an examination into the way the SEC acquires information from public companies, mutual funds, brokers, and other regulated entities, and the way it makes that information available to investors and the markets. The aim of the internal inquiry, called ’21st Century Disclosure Initiative’, will be to outline the attributes of the disclosure system for the future that incorporates technology, the new ways in which investors get their information, and recent developments in how companies compile and report the information in their SEC-mandated disclosures. The first phase of the study will be completed by the end of 2008, when a follow-on advisory committee will be appointed to consider the questions in more detailed fashion through a public and consultative process.

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