The SEC passed Regulation Fair Disclosure (Reg FD)to ensure that financial statement users have access to all the financial information they need to make decisions.

Regulation Fair Disclosure (Reg FD) was passed to ensure that all publicly traded companies must disclose material information to all investors at the same time, rather than selectively disclosing it to certain preferred investors or analysts. It is more about fairness in information dissemination rather than providing access to all financial information needed for decision-making.