Kathleen Sullivan Quotations
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Based Quotes
It is clear, based on the Court's ruling today, that Siebel Systems did not violate the spirit or letter of Regulation FD. We contested the SEC's claims in order to exonerate the company and its executives and to bring clarity to an important issue that was mishandled by the regulators. This was a win not only for Siebel but for all public companies trying to do the right thing.
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Across Quotes
It's a clear warning shot across the bow not to apply the regulation in nit-picking cases. Though the SEC says it wants more disclosure to investors, Regulation FD in fact chills corporate speech and puts executives in fear that a variation in verb tense or body language will lead to charges of a violation.