SEC likely to propose rules on completeness of disclosures

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03 Jun 2002

In a (PDF 54k) before the Rocky Mountain Securities Conference, Alan L.

Beller, the new head of the US SEC's Division of Corporation Finance, revealed a proposal for increased accountability of individual corporate leaders:

We will be recommending to the Commission in the near future that it propose rules that will require [individual corporate] leaders to certify that everything they know that they believe is important to investors has been disclosed in a company's periodic reports. This is a simple but powerful approach. We believe that it will increase involvement of corporate leaders in disclosure, make them focus on what they themselves consider important and improve the overall quality of a company's reports.

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