Zuckerberg 'Hacks' through SEC laws as HNIs lap up Facebook stock - Moneycontrol.com"

Zuckerberg 'Hacks' through SEC laws as HNIs lap up Fb stock - Moneycontrol.com

It has only been a couple of days since
Facebook became richer by half a billion dollars. Money does buy
happiness, and a way out of the IPO (reporting its financials doth not a
public listing make). However, only the rich can get richer. Unless
your net worth is calculated in millions, you are not invited to the
party.

First, lets take a look at what the SEC has to say. According to the

Securities and Exchange Act


of 1934, a publicly traded company has to file periodic reports, and
report its financials and business operations. These reporting
obligations are inescapable and mandatory by law. If a private company
exceeds 500 investors, these obligations become enforceable as well,
irrespective of whether the company is listed or not.

check out the rest of this article and then provide your insights...Good?  Bad?  Cool?  Scary?