Disclosure of information to the investing public is a primary purpose of federal regulation of the securities industry and one of the primary duties and responsibilities of financial public relations practitioners. Disclosure requirements are numerous, with most mandating publicly held corporations to disclose information. Some requirements, however, delineate types of information that may not be disseminated by the corporations. Given recent concern over the application of First Amendment free speech rights to corporations, especially in the wake of the Supreme Court's decision in "First National Bank of Boston et al v. Bellotti," there may be some question as to whether Securities and Exchange Commission (SEC) mandated disclosure of information can be interpreted as an infringement on a corporation's right of free speech. An examination of such disclosure requirements and judicial interpretation of corporate free speech from historical and critical perspectives leads to the conclusion that changes may be needed in SEC regulation of information dissemination about the securities industry in order to avoid First Amendment conflicts. (FL)