Kaufman: Part of Wall St. overhaul bill "needs a do-over"

By Frank Gerace 3:03am, July 30, 2010
Senator Ted Kaufman
Senator Kaufman says part of the financial overhaul bill signed into law last week "needs a do-over".

In remarks on the Senate floor Thursday, the Democrat said Section 9291 of the Dodd-Frank Wall Street Reform and Consumer Protection Act appears to exempt the Securities and Exchange Commission from Freedom of Information Act requests from the media.

Kaufman pointed to the Commission's use of the provision, which he says is too broadly written, in seeking to block a FOIA request from Fox Business News.

He says he hopes to work with the SEC and fellow lawmakers to amend Section 9291 so it both protects the SEC's interests and ensures government transparency.

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