Welcome to Disclosure Insight!
Published by John P. Gavin, CFA, NACD.DC
Started in 2000, Disclosure Insight® (DI®) is an independent publisher of investment research that focuses on one thing, and one thing only: Public company interactions with the US Securities and Exchange Commission (SEC).
Our mission is simple: DI helps investors at all levels assess the risk of an SEC interaction, disclosed or not, to help you achieve the returns you seek.
It’s in our tagline: Assess the Risk. Achieve the Return.®
DI research is heavily reliant on our ability to search and interpret company disclosures, paired with our expertise in using the Freedom of Information Act (FOIA).
DI is the only research provider who will consistently warn you of undisclosed SEC investigations. At any given time, we are typically tracking 80 - 100 active-and-ongoing undisclosed SEC investigations of public companies.
No one on Wall Street or in the private sector has the data and experience DI has to help you identify, interpret, and assess the risk from SEC interactions with public companies. This is true whether they are disclosed or undisclosed.
DI is owned and operated by a seasoned Wall Street securities analyst.
After putting myself through college, I got my start in the investment industry in 1985. In 1992, I earned the Chartered Financial Analyst (CFA) credential. To keep expanding my knowledge, I recently received Directorship Certification® from the National Association of Corporate Directors (NACD.DC).
Outside of Wall Street, I served for 20 years as a volunteer firefighter and am still certified as a Nationally Registered Emergency Medical Technician (EMT). I was a command officer and, yes, did get to drive the big red trucks (which is super fun).
With decades of training and experience across a wide array of roles, within and outside the industry, I’ve seen and done a lot. That experience informs the writing.
From a front-page story the Wall Street Journal ran on me back in 2002:
Have you ever seen or used an SEC comment letter in your research? If not, you should. These analytically-rich documents have been online at the SEC’s website for free since 2004, largely because of my early efforts using the FOIA.
In 2005, I brought litigation against the SEC for failure to comply with the FOIA. Fair to say, they know me well.
In 2010, I received a patent for an investment risk profiling methodology I invented.
Looking forward to being of service.
I am grateful to each of our readers and want to make it easy to engage with us. If you have questions after reviewing the FAQ’s (below), please don’t hesitate to email us at DIreports [@] disclosureinsight.com
- John
Frequently Asked Questions
What Can Disclosure Insight Do for You?
An SEC investigation, whether it is disclosed or not, holds the potential to destabilize a company, distract its management, and/or interfere with underlying fundamentals.
Here’s how we help you assess this risk -
We alert you to public companies with undisclosed SEC investigations. To do this, each year we file about 2,500 individual FOIA requests and hundreds of administrative appeals with the SEC. We take the FOIA replies, do in-depth and time-consuming research, and then publish our findings. Just the time savings alone from our work is highly valued by our subscribers.
We help you interpret disclosed SEC investigative activity. While not all SEC investigations are serious, many are. When companies do disclose an SEC investigation, few provide you enough information to analyze the risk they pose. We help you assess this risk. We closely examine the related disclosures and public statements made by the company. We then compare our findings to earlier research or documents we have in our library.
What Does it Cost?
For a limited time you can get Disclosure Insight research for free. We have a well-established base of all-access consulting clients that keep the lights on as we grow our distribution. They get added services, such as analyst access, ability to make research requests, private calls & meetings, etc.
Those interested in learning more about becoming an all-access client, or to arrange enterprise-level access, email us at DIreports [@] disclosureinsight.com
What Do You Get as a Subscriber?
DI Watch List: Published at the beginning of every month, this is our most widely read report. The DI Watch List shows and summarizes all companies on which our work found undisclosed SEC investigations recently confirmed as active-and-ongoing.
SEC Investigation Update Reports: Published multiple times as needed each month, this report gives you updates and analysis on disclosed SEC investigations and those that are undisclosed, but recently confirmed as active-and-ongoing.
Early Signals™ Reports: Valued highly by the wide array of professionals we serve, Early Signals are your first indication of POSSIBLE SEC investigative activity at a company. Over the long-term, we found about 80% of these early signals are likely to be confirmed as having active-and-ongoing SEC investigations.
DI Reports: Published from time-to-time, these reports go in-depth regarding a problem we found at a company, or within a sector.
Who Will Benefit from Using our Service?
Professional investors, both long and short.
Individual investors who manage their own portfolios.
Attorneys: The plaintiff’s bar, company counsel, and forensic investigators.
Auditors: Including their forensic investigation units.
Insurance carriers: Especially during the underwriting of Directors and Officers coverage.
Boards of directors, especially Audit Committees.
Investor relations professionals.
Investigators: Background search and other private investigators.
Regulators: Federal, state, and local law enforcement / regulators.
Been at This a Long Time
My hair is gray now, but I put these older images here to show you the long support and following I’ve enjoyed through the years. In our new home here on the Substack platform, I hope to earn your support as well.
