Fox News invents a rule exempting SEC from FOIA compliance | Media Matters for America
Fox News invents a rule exempting SEC from FOIA compliance | Media Matters for America
In fact, the provision reportedly only protects proprietary information gathered from regulated firms during the course of examinations or investigations, which mirrors exemptions that exist for bank regulators.
Fox hosts are falsely claiming that a provision in the financial reform legislation gives a “complete pass” to the Securities and Exchange Commission from complying with the Freedom of Information Act. In fact, the provision reportedly only protects proprietary information gathered from regulated firms during the course of examinations or investigations, which mirrors exemptions that exist for bank regulators
Fox fabricates “complete pass” for SEC FOIA requests
Beck: “Now the SEC doesn’t have to answer any questions from anybody? What?” On the July 28 edition of his Fox News show, Glenn Beck claimed that financial reform included “a nice little treat for the SEC.” Beck claimed, “Reports and other information provided to the SEC, or any other self-regulatory organization, will be excluded from the scope of Freedom of Information Act.” After reading from an SEC statement, Beck asked, “How in the world did we arrive here, America?” He later claimed he had a “theory” about “where we’re headed next,” and said, “Now the SEC doesn’t have to answer any questions from anybody? What?”