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Thursday, July 29, 2010

SEC is now immune from FOIA requests?

Here is the particular language from the recently passed Financial Regulatory Reform:


(1) IN GENERAL- Except as provided in subsection (f), the Commission shall not be compelled to disclose records or information obtained pursuant to section 17(b), or records or information based upon or derived from such records or information, if such records or information have been obtained by the Commission for use in furtherance of the purposes of this title, including surveillance, risk assessments, or other regulatory and oversight activities.


This is not good because the SEC generally doesn't do anything except surveillance, risk assessment and other regulatory and oversight activities. Game over.

Text of H.R.4173 as Enrolled Bill: Dodd-Frank Wall Street Reform and Consumer Protection Act - U.S. Congress - OpenCongress

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