Disclosure is management's voice. It is the cornerstone of the broader dialogue conducted between the company and investors. Disclosure enunciates management's root vision, diagram's its methodology for achieving it's operational objectives, informs about the inherent and peculiar risks of the company's endeavors and reveals historical financial performances as a measure of management's success. Its purpose is to create an informed investor.

The framework for conducting this dialogue is the rules and regulations included in the Securities Act of 1933, the Exchange Act of 1934 and the collected body of generally accepted accounting principles. The Division of Corporation Finance is the sub-segment of the broader SEC hierarchy that is tasked with overseeing compliance with the application of these rules, regulations and principles.