|
WASHINGTON (AP) - The Securities and Exchange Commission announced a new policy on subpoenaing journalists Wednesday, responding to controversy over the agency's demands for records from three online columnists.
The policy adopted by Commission Chairman Christopher Cox and the other four SEC commissioners calls for the agency to avoid issuing subpoenas "that might impair the news gathering and reporting functions." Under the new guidelines, any subpoena issued to a journalist must be approved by the SEC's enforcement director.
On a case-by-case basis, the agency must try to strike a balance between two public interests, the policy says: the free flow of information and the effective enforcement of securities laws. SEC attorneys must first try to exhaust other means and sources of information in an investigation before turning to media subpoenas.
|