Senate Moves to Close SEC FOIA Loophole

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Yesterday the Senate unanimously voted to close a loophole that may have allowed the SEC to disregard certain FOIA requests. The loophole was uncovered only after the Dodd-Frank financial regulatory bill was enacted in July.

Many organizations took issue with the SEC FOIA exemption, prompting letters from the Project on Government Oversight on August 3 and OpenTheGovernment.org on August 10. The Sunlight Foundation endorsed both letters, as did many others.

The measure enacted in the Senate, S. 3717, was the subject of a hearing by the Senate Judiciary Committee on September 16. Companion legislation, H.R. 6086, was referred to the House Committee on Oversight and Government Reform. The measure enjoys bipartisan support, although time is running out for the House to act before the mid-term elections.

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  • Please take a few minutes to read my public comment to the Securities Exchange Commission regarding the new Dodd-Frank financial regulations:

    http://sec.gov/comments/df-title-ix/short-sale-disclosure/shortsaledisclosure-11.htm

    Be sure to check out the attached files #1 & #2 at the bottom of the comment page.

    Since posting this letter both the House and the Senate have voted to repeal SECrecy. Late last week, the White House would not comment on whether Obama would veto the repeal of SECrecy. While at the United Nations in late September Obama said “we will call out those who suppress ideas”.

    Please share this your staff, writers, reporters, friends, neighbors and associates. If you have any suggestions on how others can be made aware of this situation, I will gladly accept your recommendations.

    Have a great day!

    Joe Jefferis
    Dayton, OH