Selective Disclosure: Regulation FD

What this video covers

• Who Regulation FD covers (reporting issuers and persons acting on their behalf) and the two restricted audiences (securities market professionals and holders reasonably likely to trade)
• What constitutes material nonpublic information (MNPI) in the context of selective disclosure
• Why the registered offering exclusion is narrow and conditional, not a blanket exemption, and which communication types it actually protects
• The difference between intentional and non-intentional selective disclosure, including why "reckless in not knowing" triggers the intentional standard
• The cure timing: simultaneous public disclosure for intentional leaks versus promptly, defined as the later of 24 hours or the next New York Stock Exchange (NYSE) open, for non-intentional leaks
• The valid methods for public disclosure under Reg FD, including why Form 8-K is the gold standard and why an invitation-only conference call fails the broad distribution test
• The pre-notification requirement for investor relations websites to qualify as a regular disclosure channel