{"id":186648,"date":"2013-11-27T21:49:00","date_gmt":"2013-11-28T02:49:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2013\/11\/27\/any-guess-as-to-which-sec-senior-official-is-about-to-jump-to-the-private-sector\/"},"modified":"2013-11-27T21:49:00","modified_gmt":"2013-11-28T02:49:00","slug":"any-guess-as-to-which-sec-senior-official-is-about-to-jump-to-the-private-sector","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2013\/11\/27\/any-guess-as-to-which-sec-senior-official-is-about-to-jump-to-the-private-sector\/","title":{"rendered":"Any Guess as to Which SEC Senior Official is About to Jump to the Private Sector"},"content":{"rendered":"<p>Because the Securities and Exchange Commission has <a href=\"http:\/\/www.pogo.org\/blog\/2013\/11\/sec-delays-revolving-door-restriction.html\">delayed a revolving door regulation<\/a>:<\/p>\n<blockquote><p><span style=\"color: blue;\">Months ago, bowing to concern about regulators who leave government and then work their former colleagues on behalf of industry, the Securities and Exchange Commission (SEC) announced that it was tightening restrictions on the revolving door.<\/span><br \/><span style=\"color: blue;\"><br \/><\/span><span style=\"color: blue;\">Specifically, the SEC decided to close a loophole in the ethics rules that allowed some \u201csenior\u201d SEC personnel to lobby the agency immediately after leaving instead of staying on the sidelines for a year or more, as employees at other federal agencies must do. The change in the rules\u2014revoking a longstanding exemption for some SEC officials\u2014appeared to be a rare stand against the revolving door at an agency that has long blurred the lines between the regulators and the regulated.<\/span><br \/><span style=\"color: blue;\"><br \/><\/span><span style=\"color: blue;\">But not so fast.<\/span><br \/><span style=\"color: blue;\"><br \/><\/span><span style=\"color: blue;\">A notice published in Monday\u2019s edition of the Federal Register said that the Office of Government Ethics (OGE) was withdrawing the new rule at \u201cthe request of the SEC\u201d so that the agency could have more time to \u201ceffectively educate affected employees before the exemption revocation takes effect.\u201d<\/span><br \/><span style=\"color: blue;\"><br \/><\/span><span style=\"color: blue;\">The rule, which was published as \u201cfinal\u201d on October 3, had been scheduled to take effect on January 2.<\/span><br \/><span style=\"color: blue;\"><br \/><\/span><span style=\"color: blue;\">The ethics office said it expects to republish the rule in January 2014, but it then would take another 90 days for the rule to go into effect, according to Monday\u2019s announcement. As a result, SEC employees who would be affected by the rule change\u2014including supervisory accountants, attorneys, economists, analysts, and administrative specialists\u2014will have even more time to take advantage of the loophole. As long as they leave before the rule change takes effect, they\u2019ll still be able to lobby the agency during their first year out.<\/span><br \/><span style=\"color: blue;\"><br \/><\/span><span style=\"color: blue;\">For the ethics office to withdraw a rule after it had been adopted but before it could take effect appeared to be an unusual event. POGO searched the Federal Register going back to 1994 (the earliest year available in the Government Printing Office&#8217;s online archives) and found no other OGE notice containing the phrase &#8220;Withdrawal of Final Rule.&#8221; We asked an OGE spokesman how frequently this has happened, but he declined to comment.<\/span><\/p><\/blockquote>\n<p>Not feeling hope and change here.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Because the Securities and Exchange Commission has delayed a revolving door regulation: Months ago, bowing to concern about regulators who leave government and then work their former colleagues on behalf of industry, the Securities and Exchange Commission (SEC) announced that it was tightening restrictions on the revolving door.Specifically, the SEC decided to close a loophole &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[970,975,1004,978,985],"tags":[],"class_list":["post-186648","post","type-post","status-publish","format-standard","hentry","category-corruption","category-employment","category-finance","category-politics","category-regulation"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/186648"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=186648"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/186648\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=186648"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=186648"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=186648"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}