Today President Obama signed into law a bill that sped through the House and Senate to quickly fix an overbroad exemption from disclosure under the Freedom of Information Act. The Sunshine in Government Initiative appreciates the quick action and hard work of transparency leaders in Congress to correct this mistake.
Between the legislative record for the SEC FOIA exemption in the Dodd-Frank financial reform law and the recent written statement of Mary Schapiro, chair of the Securities and Exchange Commission, we have been able to clarify the origin and evolution of the three confidentiality provisions that became law in Section 929I. And despite Schapiro’s descriptions of the provisions in terms that downplay the importance or effect of changes in the language, we have observed the addition of two phrases, in two stages, to the FOIA exemptions in what would become Section 929I of the financial reform legislation. The first change [More]
Update 8/9/10: The hearing on the SEC FOIA exemption has been moved up to September 16th. Original Post: We need some input. You may have read that the financial reform law includes a provision that allows the SEC to withhold certain investigative files confidential. Fox Business is attacking this as a broad exemption ripe for abuse, while SEC says it really is meant narrowly and will issue guidance. And today the House Financial Services Committee announced a hearing on September 23rd September 16 to look into the matter. What’s the impact on journalists who’ve covered the SEC? Let us know [More]