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<ul class="news-points"> 
 <li>ASA sues SEC for lack of transparency in enforcement actions.</li> 
 <li>SEC’s use of Exception 7(a) to withhold documents was questioned.</li> 
 <li>FOIA compliance issues spark legal battle over regulatory accountability.</li> 
</ul> 
The American Securities Association (ASA) filed a lawsuit against the Securities and Exchange Commission (SEC) for alleged lack of transparency. 
The lawsuit underscores the ASA’s frustration over the SEC’s opaque enforcement actions and alleged failure to comply with the Freedom of Information Act (FOIA) requirements. The ASA is seeking more clarity on how the SEC calculates penalties and selects entities to target. 
The ASA’s lawsuit, <a href="https://a23bc45c-4554-4d0e-a03d-124f54b031fc.usrfiles.com/ugd/a23bc4_671a70eb2d834fdc94c763e1cf795009.pdf" target="_blank" rel="nofollow">filed on June 6</a>, highlights growing concerns about regulatory transparency. The ASA argues that the SEC has consistently failed to provide adequate information about its decision-making processes. This lack of disclosure has raised questions among stakeholders about the fairness and consistency of the SEC’s enforcement actions. 
The ASA’s complaint centers on the SEC’s use of Exception 7(a) to withhold documents requested under FOIA. This exception protects information that could interfere with ongoing enforcement proceedings…
The post <a href="https://coinedition.com/regulatory-showdown-asa-takes-sec-to-court-over-foia-compliance/">Regulatory Showdown: ASA Takes SEC to Court Over FOIA Compliance</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

Regulatory Showdown: ASA Takes SEC to Court Over FOIA Compliance

Coin Edition

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