As I was reading Dave Lynn’s blog about “Issuer Disclosure for the Public Good,” I couldn’t help but relate it to the transparency movement that is growing. Dave talked about sometimes wondering whether all this disclosure stuff serves any purpose. He concludes it does.
And that’s one of my main motivators for getting involved in the transparency movement – to help us make us feel better about what we do for a living. On this “Why Transparency” page, I write: “For the drafter of transparent disclosure, there are benefits too. You can take pride in your work. You can find purpose in what you do. Not many disclosure practitioners would say they feel that way today. It’s time to embrace a new transparent era of disclosure.”
Dave’s blog details how SEC Chair Gary Gensler recently delivered a speech in which he said “Adam Smith’s nearly 250-year-old notion—that the whole economy benefits when the price of information is lowered, or information is free—is as relevant today as it has ever been. The SEC, as mandated by Congress, has an important role to promote data as a public good. I’m proud to work with all of my colleagues at the SEC, including those of you from DERA, to ensure for the public good of data.”
Look for a number of new initiatives coming up to help us all better understand transparency and how it’s a natural – and easy – solution to to helping build better value for businesses, as well as to help avoid litigation risk. It wasn’t too long ago that I blogged about how you can better understand “transparency” in a single word…
