SEC Should Use Data-Driven Method For Materiality Standards

By Peter Chan and Kristal Petrovich (June 4, 2019, 1:03 PM EDT) -- A recent ruling in Robare Group Ltd. v. SEC by the U.S. Court of Appeals for the District of Columbia Circuit gave the U.S. Securities and Exchange Commission an apparent victory that may further fuel its ongoing efforts to use the "negligent fraud" theory in enforcement actions to determine what information is material, and thus required to be disclosed by investment professionals to their clients and customers.[1]...

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