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Jul 31, 2001

Leader: The British way

Why did the explosive Reg FD cause such shock waves while the UK's disclosure bomb fell in silence?

When the US launched its FD missile last fall, shell fragments rattled round the world. From Wall Street to the City of London, from corporations to lawyers to securities professionals, everyone shouted to be heard above the regulatory din of the SEC. That's a sharp contrast to the UK Financial Services Authority's launch of a draft listings guidance manual at the end of June. In an appendix are new guidelines on the dissemination of price-sensitive information, which were last looked at in

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