Regulation Fair Disclosure, or Reg FD for short, was enacted in 2000 to address selective disclosure by companies to the various members of the investment community. Reg FD requires that any material, non-public disclosures be made in a public, fully accessible forum.

For more information, please visit the selective disclosure spotlight on the SEC's website.

Please see NIRI's Standards of Practice for Investor Relations: Disclosure, which provides guidance on Reg FD and includes summaries of court decisions and SEC enforcement actions. 

In 2013, the SEC released guidance on the use of social media for communicating information to investors. 

In 2008, the SEC issued guidance on Reg FD and the use of corporate websites.

In 2004, NIRI and CFA Institute released Best Practice Guidelines Governing Analyst and Corporate Issuer Relations.


Additional Resources

NIRI Presentation, "Investor Relations: It's Not a Dog and Pony Show" (2006).