SEC's Push for Disclosure Often Stops at Its Front Door

Earlier this month, senior staff members of the Securities and Exchange Commission's fund division discussed their regulatory agenda at a conference sponsored by the Investment Company Institute, the trade association for fund management companies. Any citizen could have bought a seat at the conference, but only on the condition that the panelists' comments -- including those made by SEC staffers -- be kept confidential.

Related Stories

Departing Levitt Called Success as SEC Chairman

Nightmare on Wall Street: Regulation FD is Upon Us

The TSC Streetside Chat: SEC Chairman Arthur Levitt

If Bush Becomes Prez, He May Pick Laura Unger to Temporarily Lead SEC

Reg FD Is Catching On

As a private membership organization, the ICI obviously has the discretion to decide who may attend its conferences. But the confidential discussion of SEC policies by senior SEC officials on government time and at taxpayer expense with 600 industry professionals seems at odds with the agency's policy on fair and equal access to market information. ...