It looks like Wiki has a good reasoning of the WHY, but not a full text implementation. Perhaps a user should contribute it. <a href="http://en.wikipedia.org/wiki/Regulation_Fair_Disclosure" target="_blank">http://en.wikipedia.org/wiki/Regulation_Fair_Disclosure</a> Here is the official SEC page on the effect: <a href="http://www.sec.gov/rules/final/33-7881.htm" target="_blank">http://www.sec.gov/rules/final/33-7881.htm</a>