This rule is designed to ensure that individual investors have equal access to information as large institutional investors, by prohibiting selective disclosure of material information.

FORBES: Connect

Thus, consultants often seek to enhance their influence with funds through a variety of devices such as limiting manager access to fund boards and selective disclosure of information regarding managers to boards.

FORBES: Compelling Pension Consultant Disclosure (June 1, 2002 )

" That's an overstatement, but Mr. Grundfest is right that social media "is a highly efficient means for broadly disseminating many different forms of information in non-exclusionary manner" and that Facebook and Twitter are "uniquely ill-suited to the selective disclosure of information.

WSJ: Gordon Crovitz: The SEC Decriminalizes Facebook Postings

In 1999, the U.S. Securities and Exchange Commission (SEC) proposed and later ratified Regulation Fair Disclosure to address selective releases of material information by publicly traded companies and other issuers.

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