Selective disclosure takes place when company officials disclose material information to certain groups of individuals, typically industry analysts, prior to making the information available to the public.
And the SEC, in a move that could have serious implications for the UK, will try to force companies to give investors information at the same time as stock analysts get them.
This is part of a three-pronged attack to amend the current rules that will also include changes designed to improve disclosure relating to company audit committees to enhance the reliability of financial statements of public companies.
Other moves will consider whether insider trading liability requires the ‘use’ or ‘knowing possession’ of significant non-public information and a there will also be a review of procedures that apply when a family or other non-business relationship gives rise to the liability of insider trading.
A new head of solutions, Aidan Brennan, has been appointed at KPMG UK
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Just one half of UK practices have implemented a pricing structure around auto enrolment implementation and advice - with many suffering increased costs
Deloitte's north-west Europe foray; BDO, Smith & Williamson investment paths; Shelley Stock Hutter; and Wilkins Kennedy discussed by editor Kevin Reed on our Friday Afternoon Live broadcast