actually may do some good for retail investors in
The online and discount brokerage Monday said it would broadcast its annual analyst day on Nov. 2 on the Internet. During the event, which lasts more than five hours, management updates analysts and large institutional investors on business developments. Schwab has never opened one of these meetings to the press or public. Unlike many companies, Schwab doesn't even hold quarterly conference calls for investors or the press.
Reg FD, as in fair disclosure, went into effect on Oct. 23 and has so far largely been portrayed in the press as stemming communication between Wall Street analysts and the companies they cover. Many companies are so worried about releasing material information to a select few, which Reg FD prohibits, that they are disclosing less information.
But in this instance, what's happening is clearly closer to the intent of the
Securities and Exchange Commission
, which enacted the rule to try to close the gap between the investment information received by retail investors and institutional investors.