“Sunlight has long been the best disinfectant to prevent problems in our market”

SEC Seeks More Transparent Disclosure For Investors, U.S. Securities and Exchange Commission, press release 2008-227, Sept. 25, 2008.

The Securities and Exchange Commission today announced that it will hold a roundtable on October 8 to discuss ways to modernize its disclosure system to give investors more useful and timely information for investment decision-making….

“Sunlight has long been the best disinfectant to prevent problems in our markets. The more direct sunlight we can shine on company disclosure documents to extract the information that investors most want and need to make financial decisions, the more honest our markets will be and the stronger investor confidence will be,” said Dr. William D. Lutz, Director of the 21st Century Disclosure Initiative.

Thanks and a tip of the hat to J.H. Snider who says, “The SEC’s disclosure technology may already be the best of any agency in the Federal government…. Nevertheless, given the recent financial meltdown, it looks like it may continue to break new ground.

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