You are assuming something that happens commonly in the industry is legal according to disclosure policies and law on sole the basis that it is common. Context is irrelevant, the laws as they are written are strict so that it removes interpretation of comments as fact by unsophisticated shareholders. If something isn't enforced due to lack of will by the authorities or lack of resources to do so...does not make it legal.

It is common for people to drive 10km above the speed limit but it is rarely, if ever enforced...that does not mean speeding 10 km over the speed limit is legal nor does it mean that if you kill someone while driving 10 km over the speed limit that it won't be taken into account when the law presses its charges and the prosecuter builds its case.

I certainly hope any defense should come to that be predicated on "well the rest of the industry does it, so I did" arguement.

S.