However they feel, companies are hurrying to comply. Already 86 percent have changed their policies regarding the disclosure of information. More have taken such steps as restricting what management can say during meetings and conference calls with analysts. They are also disclosing information through Webcasts that include journalists and the public. Only 12.1 percent say they had disclosed material information selectively to individual analysts before FD took effect.
Half say that the new rules have reduced the amount of company information available to investors.
A slim majority say FD has contributed to greater volatility in the stock market. The results of CFO Forum are based on quarterly surveys of a universe of 1,600 chief financial officers. Because of rounding, responses may not total 100 percent.