Tags: Financial | reform | SEC | FOIA | Secrecy | Fox

Lawmakers Fire Back at New SEC Secrecy Rules

Wednesday, 11 Aug 2010 04:30 PM

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
Secrecy provisions buried in the Dodd-Frank financial reform law are threatening to undo the measure less than a month after it was enacted. Despite President Barack Obama's assurances that the financial reform bill would “increase transparency in financial dealings,” legislators from both sides of the aisle are lining up to suggest amendments to the law.
Rep. Darrell Issa, R-Calif. , the ranking Republican on the House Oversight and Government Reform Committee
Rep. Darrell Issa, R-Calif.
At issue are provisions that allow the Securities and Exchange Commission to ignore public requests for information, including requests filed under the federal Freedom of Information Act (FOIA).

According to Politico, there are several bills to amend the Dodd-Frank financial reform law being submitted by the likes of Rep. Darrell Issa, R-Calif., and Sens. Patrick Leahy, D-Vt., John Cornyn, R-Texas, Ted Kaufman, D-Del., and Chuck Grassley, R-Iowa. “The problem is it’s written very broadly,” Scott Hodes, an attorney who specializes in FOIA, tells Politico.

The secrecy provision got little attention during lengthy debate on the controversial financial reform bill. It gained traction late last month when the SEC cited the new rules in federal court as part of an FOIA dispute with Fox Business News, which reported on the matter.

© 2014 Newsmax. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
Privacy: We never share your email.
 
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Time Warner Cable Customers Lose Internet Service Nationwide

Wednesday, 27 Aug 2014 09:54 AM

Time Warner Cable, which is planning to combine with Comcast, said Internet service is largely restored after frustrated . . .

Police Departments Suspended for Losing Pentagon Equipment

Wednesday, 27 Aug 2014 09:37 AM

Nearly 200 state and local police departments have been suspended from a Pentagon program that allows local agencies to  . . .

WSJ: Buffett Makes Tax Whopper on Burger King Deal

Wednesday, 27 Aug 2014 06:40 AM

Billionaire Warren Buffett may be an ally of President Barack Obama's quest to raise taxes on the wealthiest Americans,  . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved