Roundtable on Modernizing the Securities and Exchange Commission’s Disclosure System

ARCHIVED VIDEO WEBCAST
Original Live Broadcast:
Wednesday, October 8, 2008

Transcript of the Roundtable

In June 2008, Chairman Christopher Cox launched the 21st Century Disclosure Initiative and called for a fundamental rethinking of the Commission’s current disclosure system.  The principal objective of the Initiative is to enhance the usefulness and transparency of disclosure to investors.  The Initiative will include a careful review of existing disclosure, the objectives of disclosure, and whether and how disclosure may be improved through the application of modern technology and practices.  The Roundtable on Modernizing the Securities and Exchange Commission’s Disclosure System provided an opportunity for investor representatives, company officials, information intermediaries, practitioners, and academics to discuss these issues.

SEC Commissioner Chairman Christopher Cox opened the Roundtable with welcoming remarks.  The remainder of the Roundtable was organized as two panels.  The first panel explored the data, technology, and processes that companies and other filers use in satisfying their disclosure obligations. It also considered the data and technology that investors use in making their investment decisions. The second panel considered how the Commission could better organize and operate its disclosure system so that companies enjoy efficiencies and investors have better access to high-quality information.  More information about the Roundtable’s agenda and participants can be found here.