It is there to ensure a level playing field for all players.
I don't see it quite as simply as you imply.
If information is likely to be price sensitive, then processes need to be in place, to ensure confidentiality until clear information can be released.
Some agreements take time, making it harder to maintain confidentiality. But that doesn't change the obligation.
When clear information can be released it should then be available to all at the same time.
If the information is material enough, that time allowing consideration by the market is appropriate, then this should also be arranged.
Failure to maintain confidentiality is an obligation that can have serious implications, and it applies to all who might seek to take advantage of information for personal benefit.
This is the only way 'fairness' can apply.
Just my thoughts.
PIR Price at posting:
$1.59 Sentiment: Hold Disclosure: Held
