Limit the number of people who are authorized to speak on behalf of your company to analysts, the media and investors. Ideally, your spokesperson should be a member(s) of senior management. Spokespersons should be knowledgeable about your disclosure record and aware of analysts’ reports relating to your company. Everyone in your company should know who the company spokespersons are and refer all inquiries from analysts, investors and the media to them. Having a limited number of company spokespersons helps to reduce the risk of:
(a) unauthorized disclosures;
(b) inconsistent statements by different people in the company; and
(c) statements that are inconsistent with the public disclosure record of the company.[FN 41]
FN 41 In some circumstances a company’s designated spokesperson will not be informed of developing mergers and acquisitions until necessary, to avoid leakage of the information.