The SEC held a meeting--little publicized by the agency or others--with at least two big-name Wall Street CEOs, Jamie Dimon of JPMorgan Chase and Lloyd Blankfein of Goldman Sachs. The Washington Examiner took the agency to task for going into "neither confirm or deny" mode about the meeting.
"The SEC has pledged full transparency then--in fact, if you go to the public comment page for Dodd-Frank, you'll see that they do provide memoranda based on meetings they have with 'interested parties,'" reports the Examiner. "But the public affairs officer's reluctance to confirm or deny the meeting as reported in Politico shows a gaping loophole: There's no way to know whether a meeting took place unless they decide to tell us. And so far, they haven't told us," the Examiner notes.
The SEC has every right to talk to these executives. Indeed, they should be talking to them. But the optics are important. I see no reason not to be fully transparent and release as much information as prudent. And for that matter, did the meeting have to take place at the swanky Willard? Why couldn't the executives come to the very nice SEC building?
All in all, this is not a big deal. The SEC is in a the spotlight right now, and many support its attempts to clean up Wall Street. This meeting is not anything that should detract the agency. But perhaps someone ought to think about these things.
For more:
- here's the article
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