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FINALLY…House Votes to Repeal SEC Secrecy Provision in Dodd-Frank

The House voted today to strike language from Section 929I of the Dodd-Frank Wall Street Reform and Consumer Protection Act that had provided the Securities and Exchange Commission with sweeping new powers to hide its records from public scrutiny. The House’s passage of S. 3717 comes just one day after the Senate voted unanimously to pass the bill, and is the first legislative correction to the new financial regulatory overhaul law.

“This is a big win for open government and accountability. It is especially a victory for defrauded investors, the media, and whistleblowers. The bipartisan support for S. 3717 sends a clear message that Congress never intended to give the SEC such broad authority to keep its records under a veil of secrecy,” said POGO Executive Director Danielle Brian (more at Project on Government Oversight’s blog here on the repeal). “With the support of Representative Barney Frank, D-Mass., the House took swift and decisive action to ensure that the SEC does not further shield itself from accountability. POGO calls on President Obama to sign S. 3717 into law without delay.”

(Founded in 1981, the Project On Government Oversight is an independent nonprofit that investigates and exposes corruption and other misconduct in order to achieve a more effective, accountable, open, and ethical federal government).


One response

  1. susan mulford

    Hi Erin,

    I am speechless. Because your sister is getting married. I think you need to join us for drink at buckely’s on thanksgiving night. I work for the the state of delaware @ the state mental hospital. So I have started a new carreer at 33. I love my job. I volunteer for Mike Castle from March and I think I am just going stuff invitation. I am member of the Junior League of Wilmington and I had amazing friends. I do not understand a lot of this stuff. But I am scared for my future and my children’s and my next husband. So keep writting and I try to give patients hope that they will recovery.


    Susan Mulford

    September 24, 2010 at 1:17 am

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