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Tell Congress to Close the SEC's Revolving Door

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Here’s what Bill Moyers had to say about our report on the revolving door between the Securities and Exchange Commission and industry:

“According to a major new report from the nonpartisan watchdog POGO – the Project on Government Oversight -- hundreds of the agency’s former employees have done or are doing business with the SEC on behalf of the corporations the agency is supposed to regulate.

Imagine – hundreds with an intimate knowledge of how the place works advocating for their clients with friends at the SEC -- colleagues who themselves may be looking for a big payoff when they, too, leave government.”

The revolving door blurs the lines between one of the nation’s most important regulatory agencies and the interests it regulates. Former SEC employees routinely help corporations try to influence SEC rulemaking and enforcement.

Besides pointing out what is wrong with the revolving door, our report outlines several steps Congress can take to mitigate the most harmful effects of the revolving door. We need your help to get these recommendations in front of Congress.

Tell Congress to Close the SEC’s Revolving Door!

Recipients

  • Your Senators
  • Your Representative

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Message

Dear [Decision Maker],

A revolving door blurs the lines between one of the nation's most important regulatory agencies and the interests it regulates. Former employees of the Securities and Exchange Commission (SEC) routinely help corporations try to influence SEC rulemaking, counter the agency's investigations of suspected wrongdoing, soften the blow of SEC enforcement actions, block shareholder proposals, and win exemptions from federal law.



I urge you to read POGO's report at http://www.pogo.org/our-work/reports/sec-revolving-door.html

POGO's report includes recommendations on how to increase transparency and accountabiity at the SEC. You can find those recommendations here: http://www.pogo.org/our-work/reports/2013/dangerous-liaisons/conclusions-and-recommendations.html

To learn more about POGO's work on the SEC's revolving door, please contact Angela Canterbury, POGO's director of public policy, at acanterbury@pogo.org or (202) 347-1122.

Sincerely,
[Your Name]
[Your Address]
[City, State ZIP]