Senate Repeals FOIA Exemptions For SEC

Law360, New York (September 22, 2010, 4:35 PM EDT) -- The U.S. Senate has approved a bill that repeals provisions of the new financial reform law that allow the U.S. Securities and Exchange Commission to withhold certain regulatory records from the public.

On Tuesday, the Senate unanimously adopted S. 3717, which scraps certain exemptions to the Freedom of Information Act that authorize the SEC to deny public requests for information related to the agency’s policing of financial institutions.

Specifically, the law strikes Section 929I in the recently enacted Dodd-Frank Wall Street Reform and Consumer Protection Act,...
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