| SEC
Conducts Online Investor Survey
By IndexFunds.com Staff
May 9, 2001 |
|
The Securities and Exchange Commission (SEC) is performing
an online survey to learn more about how investors are utilizing
the Internet as an information resource when making important
investment decisions.
The ten-minute survey is now available on the SEC
website, and will be conducted through July 1, 2001.
"As technology continues to transform the securities markets,
I'm asking investors to share their experience and expectations
with us," said Laura Unger, acting SEC chairwoman. "The
survey results will give us valuable insights as we continue to
develop programs and policies to help investors profit from technology
while avoiding potential pitfalls."
Since taking over as acting chairwoman in Febuary 2001, Unger
has brought two issues to the forefront: Regulation Fair Disclosure
(Reg FD), and the ever-expanding role of the Internet and
technology in individual investment decisions.
Last month, Unger held a public roundtable meeting to discuss
Reg FD, the crowning achievement of the previous SEC chairman
and small investor advocate Arthur Levitt. Unger has been critical
of Reg FD, the rule designed to prevent selective disclosure of
sensitive company information, including earnings forecasts, to
analysts. Her reservations concerning the perceived benefits of
simultaneous dissemination of information to the public have been
widely documented, and many within the investment community have
echoed her suspicion that the rule may actually hinder the flow
of information. Unger was the only SEC commissioner to vote against
Reg FD when it was passed last August.
Unger has indicated that she intends to hold a second roundtable
meeting devoted to financial websites and how new technology is
affecting markets and investors.
However, Unger's tenure as acting SEC chairwoman may be drawing
to a close. Today, The New York Times reported that President
George W. Bush is set to nominate Harvey L. Pitt for SEC
chairman. Pitt served as SEC general counsel in the 1970s, and
his clients in private law practice have included the New York
Stock Exchange and notorious inside trader Ivan Boesky.
To listen to a webcast of the April 24th SEC roundtable discussion
on Reg FD moderated by Laura Unger, click here
(very brief registration required).
