Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

SEC: More transparency coming

By Julianne Pepitone, staff reporter


NEW YORK (CNNMoney.com) -- The Securities and Exchange Commission will make it easier for the public to join in the rulemaking discussion, as required by the new Wall St. reform law.

The SEC's changes go "well beyond what is legally required," the commission in a statement Tuesday, and they are meant to provide "greater transparency and accountability."

Before President Obama signed the regulatory reform law last week, the SEC was already required to offer a public comment period when it proposed rules or rule amendments.

But under the reform, the public can now comment before the commission makes its proposals. Public hearings will also be available for some issues, the SEC said.

"We recognize that the process ... works best when all stakeholders are engaged and contribute," SEC Chairwoman Mary Schapiro said in the statement.

Complaints about the regulatory body reached a groundswell following public outcry over a perceived lack of foresight -- from scammers like Bernie Madoff to complicated mortgage-backed products sold by banks such as Goldman Sachs.

The SEC also said it "will provide greater public disclosure" of staff meetings; try to meet interested parties with different views; solicit comment from affected parties that aren't fully represented by developing public record; and put meeting agendas into the public record.

For a list of relevant e-mail addresses, visit the SEC website at http://www.sec.gov/spotlight/regreformcomments.shtml.  To top of page

Index Last Change % Change
Dow 15,973.84 313.66 2.00%
Nasdaq 4,337.51 70.67 1.66%
S&P 500 1,864.78 35.70 1.95%
Treasuries 1.75 0.10 6.33%
Data as of 8:09am ET
Company Price Change % Change
Bank of America Corp... 11.95 0.79 7.08%
General Electric Co 28.26 0.81 2.95%
Cisco Systems Inc 25.11 0.43 1.74%
Chesapeake Energy Co... 1.59 -0.19 -10.67%
Freeport-McMoRan Inc... 5.53 0.64 13.09%
Data as of Feb 12
Sponsors

Sections

Investors need someone they can bring home to mother instead of bad boys (or girls) that may make their heart beat faster. Boring beats bold in this market. Here are 10 dependable stocks we love. Southwest (ticker symbol: LUV) is one. More

India's finance minister isn't worried about jobs being lost in the country's manufacturing sector despite warnings that industrial robots will dramatically reduce the need for factory workers in coming decades. More

Eastern Illinois University laid off 198 staff members this week, and the college president is blaming the state government. More