A Number 10 spokeswoman was unable to give any timetable for disclosure of the letters.
With increasing SEC concerns about private trading of Facebook stock on places like SecondMarket and pooled funds like Goldman's which are engineered to skirt SEC disclosure rules, putting a timetable on when financial disclosures will be forthcoming is probably a good idea.
The SEC, for its part, needs to restore U.S. leadership in this area and move rapidly to announce new disclosure rules and a timetable that forces the industry to comply soon.
They are asking Mr Justice Nugee to set a timetable for the disclosure of emails and other documents, including the legal advice provided to Lloyds regarding the contents of the circular.
The two-day session is focusing on case management issues, timetabling, sequencing of witnesses and disclosure of evidence.
Investors "remain in the dark as to the nature and extent of the alleged violations (and knowledge of them within the company); as to the nature of any past or future sanctions for executives with direct responsibility or oversight responsibility; and even as to the timetable for completion of the investigation and disclosure of its results," I.S.S. wrote in a report.
The hearing was expected to fix the timetable for the case, and deal with witness statements and disclosure of documents including texts and emails by each side, as well as any legal procedural disputes that exist between the two parties.
The Credit Card Accountability, Responsibility and Disclosure Act, signed into law in May, gave credit card companies a leisurely timetable — as long as 15 months — to phase out predatory practices used to bleed consumers.
The next steps in Armstrong's plan are the filing of a disclosure statement within the next 60 days and then a hearing to set the plan-voting timetable.
This is interesting to me in part because I spoke to Druckmann perhaps an hour before this announcement - reminding us once again of the unyielding timetables of this kind of revelation, and the implicit tensions between news management and disclosure.
