The U.S. Securities and Exchange Commission passed its fair disclosure regulation in efforts to curve selective disclosure and insider trading, but its concept is "completely wrong," John Levin, CEO of Levin Capital Strategies told CNBC on Thursday.
"The public cannot make investment decisions — in my opinion — in competition with professional analyst," Levin told "Closing Bell."
The expert highlights that fair disclosure rules influence enterprises to fall into quiet periods. Levin considers that during stock turbulence, helpful information outside of quantitative data should be shared. He added that in cataclysmic scenarios, the absence of information fuels market volatility.