House Republicans Criticize SEC Over Recordkeeping Failures

House Republicans Jim Jordan (R-OH), James Comer (R-KY), Patrick McHenry (R-NC) and Tom Emmer (R-MN) criticized the SEC for "aggressively" enforcing recordkeeping laws on private businesses (see previous coverage).

The representatives found such enforcement "curious" given the agency's own failures to comply with federal transparency and record-keeping laws. In their letter, the congressmen derided the SEC's actions given its "history of skirting federal transparency and records laws." They said that the SEC's failure to comply with recordkeeping laws stemmed from its failure to produce records of "off-channel" communications with environmental activists upon request.

To improve transparency and congressional oversight, the congressmen requested that, no later than November 5, 2022, the SEC:

• certify its compliance with federal recordkeeping standards;

• confirm that no employee, including the chair and commissioners, has used a personal device to convey official SEC communications;

• provide an explicit definition of "off-channel" communications for the purposes of responding to Freedom of Information Act requests and other federal transparency requirements; and

• provide a detailed list of any instances of SEC employees' use of "off-channel" communications for SEC business.