[jedberg]

> Why is it necessary for these news to be stored in some central news database

Amusingly it's because of the hedge funds. They want to have a limited list of places to check for news to make sure no one gets there ahead of them.

This is why they were so upset when the Netflix CEO made something public on Facebook -- because they weren't watching his Facebook page for news (but they sure are now!).

The SEC actually has a very limited set of places that you can release financial news because of this.

[acconsta]

I mean, hedge funds have the resources to monitor thousands of websites. Joe Retail Investor doesn't. Reg FD was introduced to level the playing field.

[pdeuchler]

I was under the impression that it was because financial news is an extremely sensitive business. Twitter has the power to move the market now, and we already know the damage simple, fake websites can do[0]. There's a lot of power in publishing public financial information (as the article demonstrates) and that is why we have regulation. People need confidence in their information if they are to have confidence in their market.

[0] http://www.theverge.com/2015/7/14/8962433/fake-bloomberg-new...