For more than a half century, the Freedom of Information Act (aka FOIA) grants any person a legally enforcable right to obtain access to federal agency records (with certain exceptions). The FOIA requires federal agencies to promulgate regulations, “specifying the schedule of fees applicable to the processing of requests” and “establishing procedures and guidelines for…
Tag: Securities and Exchange Commission (SEC)
COMPLY-Investor advocates push to see trove of arbitration records
From Reuters: Dec 5 (Reuters) – A long-running battle over whether the top U.S. securities regulator should release records about its supervision of Wall Street’s arbitration process is about to go another round, this time with input from a vocal consumer advocate.
For nearly four years, a group of lawyers has been pushing the U.S. Securities and Exchange Commission to release documents about its oversight over how the Financial Industry Regulatory Authority selects arbitrators who hear legal disputes between brokerages and investors.
SEC oversight of FINRA exempt from FOIA request
From National Law Review:
The District Court for the District of Columbia has held that the Securities and Exchange Commission is exempt from producing documents relating to its audit, inspections, and review of the Financial Industry Regulatory Authority (FINRA) in response to a Freedom of Information Act (FOIA) request.
Lawmakers now reporting financial transactions
WASHINGTON — Members of Congress are now posting their stock transactions online on a regular basis to comply with a law enacted 11 months ago to curtail illegal insider trading by lawmakers and their staffs.
Why does the SEC protect banks’ dirty secrets?
Why are the Fed and SEC keeping Wall Street’s secrets?
As I started each of my three books — about Lazard Freres, Bear Stearns and Goldman Sachs Group Inc. (GS) — I submitted Freedom of Information Act requests to the appropriate government agencies (the Securities Exchange Commission, the State Department and the Federal Reserve) to obtain whatever documents, memos and e-mails they had about these companies and their senior executives.