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Investor Summit:
May 10, 2002

The SEC held an Investor Summit at SEC headquarters in Washington D.C. on the morning of May 10, 2002. Individual investors nationwide were given an opportunity to ask questions and offer comments about the SEC's regulatory agenda in the wake of recent events. See the May 1 press release for additional details about this meeting.

You can access the Investor Summit webcast archives (as well as the player software) through the link below.

   *   Access Webcast Archives and Software

   *   Written Transcript Now Available New!

Background Information:
Recent Items in the SEC Regulatory Agenda

  • Better MD&A discussion of critical accounting policies:   On April 30, the Commission proposed rules requiring companies to discuss critical accounting policies, potential alternatives, and why they chose the policy they did. The press release is at, and the rule proposal is now available at
  • Faster financial information:   We recently proposed a rule to accelerate filing dates for quarterly and annual reports, and to have companies place financial filings on their websites as soon as the filing is complete. (the proposed rule is at We offer financial filings on our website through our "EDGAR" system (at, currently with a 24 hour delay. We have just begun linking to a private site that offers these filings real-time, for no cost.
  • Executive stock option plans:   Recently Chairman Pitt gave a speech in which he urged that shareholders be allowed to vote on stock option award programs for top executives. The speech is at
  • Clarity of financial information:   The agency is actively seeking ways of making complex financial statement information easier for investors to absorb and understand. In our prior Roundtables (archived at we heard discussion of the tension between more information and more understanding of the information being communicated. Some have proposed "short form" financial information, containing a summary of critical financial information with links to underlying details.
  • Analyst conflicts:   The Commission on Wednesday approved new NYSE and Nasdaq rules for analyst recommendations. The press release is at and the order approving the changes is at
  • Oversight of the accounting industry:   Chairman Pitt has proposed the creation of a new system to better regulate the accounting industry (speech is at

Modified: 06/25/2002