SEC to Hold Roundtable on 21st Century Disclosure Initiative

The SEC has announced that it will hold a roundtable on modernizing securities regulation under the auspices of its 21st Century Disclosure Initiative, which is an initiative to completely rethink the federal regulation of securities. Given the events of recent weeks, this initiative takes on added importance. And it also highlights that the SEC is a disclosure agency, which some people may have forgotten in the market turmoil. As former SEC Chair and US Supreme Court Justice William O. Douglas said, the truth of the matter being told, the decision is left to the investor, which means that once full and accurate disclosure about a security has been made, the investor makes the choice without any recommendation from the SEC. Thus, given full and candid disclosure, the SEC does not protect investors from unwise investment decisions.