The National Investor Relations Institute of Vienna, Va., has announced results of a survey regarding the impact of the Securities and Exchange Commission's Regulation Fair Disclosure on corporate disclosure practices.
Twenty-eight percent of the 577 institute member companies interviewed in January and February said they are providing more information to investors now than they did before the rule went into effect last October. Forty-eight percent said they are issuing about the same amount of information and 24 percent said they are providing less information.
Eighty-nine percent of the companies interviewed said they are providing full public access to their conference calls - in which quarterly earnings results are discussed - compared with 60 percent that did so prior to the rule's adoption. Ten percent of respondents said they do not hold conference calls and one percent said they are conducting calls restricted to financial analysts and major investors.
The institute is a national organization of more than 5,300 corporate officers and investor relations consultants representing over 2,600 U.S. companies.