In July 2013, Sen. Chuck Grassley asked the University of Michigan to account for an arrangement that allowed certain investors early access to a university-produced consumer confidence survey. The University of Michigan now will make the information more widely available upon release. Grassley made the following comment on this development.
“It was surprising that a public university was helping to give an edge to private clients over the average investor. It’s good news that the university is changing that practice. For the securities markets to be fair, all levels of investors should receive market-moving information at the same time.”
The University of Michigan’s announcement is available here.
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