Scholarship@WashULaw

Document Type

Article

Language

English (en)

Publication Date

1995

Publication Title

Fordham Law Review

Abstract

The transformation of the Securities and Exchange Commission's mandatory disclosure system represents the single most important development in the agency's greater than sixty years' experience administering disclosure requirements. Since the early 1970s, the SEC has shifted its emphasis from historical or "hard" information to its current emphasis on forward-looking information. This transformation can be termed the "soft information revolution" in the SEC's mandatory disclosure system. In terms of investor protection, the SEC's emphasis on forward-looking information has significantly improved the quality of what is mandatorily disclosed.

Keywords

SEC, Commission, Mandatory Disclosure, Soft Information

Publication Citation

Joel Seligman, The SEC’s Unfinished Soft Information Revolution, 63 Fordham L. Rev. 1953 (1994)

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