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The curtailed information may instigate two other occurrences - adverse selection and moral hazard that will diminish market efficiency.
A day after the plan was released, the SEC announced it would also be rethinking disclosures on corporate mergers, alerting financial watchdogs to the prospect of significantly curtailed information on major deals.
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Britain's defense against the claims of complicity in detainee abuse, in the courts and in Parliament, had led to the disclosure of secret aspects of its intelligence dealings with Washington, leading to warnings from the United States, some of them in public, that intelligence links would be curtailed if information passed to Britain in secret continued to leak into the public domain.
But critics of the integrity drive say it not only limits candidates' First Amendment right to political expression but also, in placing boundaries on the character of campaign give-and-take, threatens to curtail the information that voters need to make informed choices.
Perceived limitations on consultation time also curtailed the opportunities for information exchange; " It is time pressured.
The campaign for freedom of information led by Maurice Frankel has already warned that the bill curtails freedom of information.
With just one law, the Italian government will curtail freedom of information and prosecutors' duties to investigate.
Now, a debate heating up in Washington puts a twist on the query: Are we willing to curtail access to information in exchange for cybersecurity?
It had said that the decision would curtail freedom of information, but Google has now set up a web page through which people can request that links be removed to an article about them that they consider to be outdated or an invasion of privacy.
The bill, however, as the ACLU and others have pointed out, would not do an even decent job at curtailing the collected information for that purpose.
By tweaking a few definitions, the SEC could curtail how much information the public receives about the internal operations of corporate conglomerates and their tax-avoidance efforts, while simultaneously shielding big firms from shareholder lawsuits.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com