The head of the Securities and Exchange Commission is defending its newly-won exemption from the Freedom of Information Act:
In testimony before a Congressional committee on Thursday, Schapiro defended the legislation, section 9291 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, which allows the SEC to reject some requests for documents.
The provision “enhances the commission’s ability to examine regulated entities by making clear that the commission may protect, in appropriate circumstances, information gathered in the examination process,” Schapiro said.
Of course, every regulatory agency gathers information. How the SEC is different from the rest is beyond me.
But have no fear:
But Schapiro said the SEC will not use the law to cover up its mistakes. To the contrary, she said, the agency has issued guidance to ensure that its employees remain committed to “principles of open government.”
Oh, they promise not to abuse their power? I’m so relieved.
Internet Scofflaw 