I am used to seeing disclosure messages at the end of articles with notices such as "WellPoint is a Motley Fool Inside Value recommendation."Reading the Fool Disclosure Policy I find a lot about the rules for authors' disclosure. And I find a section explaining about the 30 day window when recommendations made in paid content - such as the example above - will NOT be disclosed, which makes perfect sense.What I could not find was a statement committing MF to revealing paid content recommendations outside the 30 day window. Obviously you make such disclosures at least some of the time, as in the example I used. However I find no statement saying that outside that window you will make any such disclosure.So what is the real policy? I am guessing that it is either (1) disclose anything outside the 30 day window, or (2) disclose sometimes if it is outside the 30 day window, where the rules for disclosing (or not) are not themselves for public disclosure.If you can clarify this point it would be appreciated, and adding the clarification to the posted Fool Disclosure Policy might be a good idea too.Thanks!
It has been over two months with no reply to this question. I went back and re-read the disclosure policy to see if I missed something the first time around. If I did, I missed it again the second time.It is quite clear about the disclosure rules that must be followed by individuals associated with MF. I certainly see no problem with them.It is quite clear about when MF will never disclose that a stock is a pick of one of the paid services (30 day rule). As a subscriber to one I appreciate that.I can find nothing defining a rule about revealing what stocks are picks of paid services outside the 30 day window that follows a paid service recommendation. I see such disclosures all the time at the end of MF articles, but I still can not find anything in the disclosure policy about them. It seems contradictory that one of the most common disclosures made by MF is not covered by the disclosure policy.Anyone care to comment this time?
RHinCT,The rule is if a recommended stock is mentioned in an article outside the 30-day window, the Fool will disclose that fact at the end of the article.You're right that this rule is not included in the disclosure policy. Perhaps it should be. We'll work on getting that revised. Thanks for pointing this out.TMFMarfa (Fool Legal)
Thank you for responding!
RHinCT,The rule is if a recommended stock is mentioned in an article outside the 30-day window, the Fool will disclose that fact at the end of the article.You're right that this rule is not included in the disclosure policy. Perhaps it should be. We'll work on getting that revised. Thanks for pointing this out.TMFMarfa (Fool Legal)You posted this response to my post on the Fool Disclosure Policy board back in July. Now, five months later, you revise your policy without addressing this issue. Do you think you could give it another look please?Thanks.RHinCT
Our disclosure page should now be updated and current.
OK, I see that this passage covers the issue. Sorry if I went charging off without reading it carefully enough.After 30 days, we will disclose our recommendation or ownership until we cease to recommend the stock, or we sell our entire position.I assume that shorting has the same restrictions - "sell our entire position" compares to "cover our short position".Thanks!
Yes, shorting has the same restrictions. Fool On,TMF Marfa
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