SEC Proposes Rules under Freedom of Information Act
The SEC published for comment proposed amendments to regulations under the Freedom of Information Act ("FOIA") to allow the SEC to collect fees that reflect its actual costs, add an appeals time frame, and clarify other issues in the regulations.
According to the SEC, the proposed amendments: (i) provide a formula for fees charged to FOIA requesters, (ii) incorporate a time frame in which a FOIA requester must file an appeal in the event a request or a portion thereof is denied, (iii) allow for submission of FOIA appeals by email or facsimile, and (iv) allow the Office of FOIA Services to issue responses to FOIA requests indicating that no records were located.
Comments will be due 30 days from the publication of the proposed rule in the Federal Register.