Political Quotes

“This amendment repeals section 929I of the Dodd-Frank bill that grants the Securities and Exchange Commission a broad exemption for disclosure under the Freedom of Information Act. A hearing that the Financial Services Committee held on this provision last week yielded a bipartisan agreement that the section needed to be tailored more narrowly. And this was consistent with what Chairman Ed Towns and Ranking Member Darrell Issa had determined in the Oversight and Government Reform Committee. I want to commend Chairman Towns and Ranking Member Darrell Issa for their leadership on this matter and for their draftsmanship on amendments which we think are actually more proper than the Senate amendment. But as Chairman Frank said, the Senate amendment is an improvement over the existing provision. I think it merits bipartisan support. Additionally, I want to thank SEC Chairman Mary Schapiro, who expressed her willingness early on to work with the committee in a spirit of cooperation to address the concerns that we had raised about the section. Madam Speaker, the Dodd-Frank Act confers significant new supervisory, rulemaking, and investigative powers on the SEC.”