Ironically, I've been a government contractor for several years. I also have some experience with creating contracts, although I won't pretend to be an expert on the financial portion as I'm a technical contributor.
Yes, there are circumstances that allow discretion, but generally if a contracting company doesn't comply with requirements, the government has a habit of becoming quite short-tempered with them. In fact, not following the "letter" of the law is a primary disqualifier for most soliciting contract bids.
It's a one-way street; contractors are on a short leash to follow regulations or risk losing the contract (or potentially worse in certain cases). I imagine public companies are treated in a similar way when it comes to disclosure requirements.
No company should depend on "leeway". They should strive get things done on time and by the book or unnecessarily risk consequences.
Having said all that, I have no idea what is being communicated between SOLI, FINRA, and the SEC; retail investors should be publicly apprised for this very reason.
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