According to Odaily, the US Securities Association is reportedly accusing the US Securities and Exchange Commission (SEC) of lacking transparency in its enforcement actions. The accusation was disclosed by Eleanor Terrett, a reporter for Fox Business, on platform X. The Association alleges that the SEC has failed to respond to the requirements of the Freedom of Information Act.
The Association's accusation is a significant development in the ongoing scrutiny of the SEC's operations. The Freedom of Information Act is a federal law that allows for the full or partial disclosure of previously unreleased information and documents controlled by the United States government. The Act provides the public with a right to access information from the federal government, and the SEC, as a government agency, is expected to comply with its provisions.
The SEC has yet to respond to the accusations. The lack of response from the SEC could potentially raise further questions about its transparency and accountability. This incident underscores the importance of transparency in the operations of government agencies, particularly those involved in the regulation of financial markets.