Senate's repeal of FOIA exemption is a blow to SEC chief Schapiro

09/23/2010 | Wall Street Journal, The

The U.S. Senate has voted to repeal a measure of the Dodd-Frank act that allows the Securities and Exchange Commission to keep parts of its investigations private. According to the law, the agency can withhold information obtained through inquiries and some other activities in the event of a request through the Freedom of Information Act. Sen. Patrick Leahy, D-Vt., said the change will "restore stability and accountability to our financial system." SEC Chairman Mary Schapiro has fought to keep the exemption.

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