Revolving Door Regulators

1. The SEC, however, has been known to excuse some senior officials from the waiting period, making it so that these people can go through the revolving door effective immediate

2. The SEC- what they did, who they are, how can we use this

2.1. they are the securities and exchange commission

2.2. 419 alumni filed 1,949 post-employed disclosure statements

2.3. Employees are required to notify the employer before they are employed by anyone else

2.4. Companies listed as those people have left for- ACA Compliance Group, and other banking firms

2.5. Most often claim filing is under Enforcement, which racks up an impressive 1,032 disclosure statements

2.6. Most common career paths chosen by exiting SEC members- Wilmer Cutler Pickering Hale and Dorr LLP, which is a law firm. They also boast having a former SEC director right on their front page

2.7. Mary Jo White, President Obama's nominee for the chairman's position of the SEC, dismissed concerns of a revolving door herself.

2.8. The SEC has turned to WilmerHale for its top employees and directors as well, gaining at least one top member, and most likely many more

2.9. One man even left the SEC, joined WilmerHale, then re-joined the SEC later.

2.10. The SEC is currently moving to close CERTAIN revolving door loopholes, making it so that they need to wait a year before they can represent clients before the agency, taking effect in early 2014

2.11. Between 2006 and 2010, 219 former SEC employees filed 789 post-employment statements indicating their intent to represent an outside client before the Commission

2.12. The SEC spokesperson John Nester last year that the loophole was "No longer deemed necessary" but did not elaborate how the agency determined this conclusion and refused to comment further.

3. The basic issue is that a company does not want to continue paying you while you go to work for a competitor, but they are ruling out the idea that working for the government would be a form of competition.

4. It's mostly about job loss- how someone can leave their current line of federal work, go to the private sector, make money, then come back later.

5. rense.com/general33/fd.htm

6. https://www.commondreams.org/view/2013/07/28-1

7. Now, as a result of the new rule change, SEC alumni who made more than $155,440.50 a year will have to wait at least one year before they can represent clients before the agency, according to reports citing the ethics memo. For instance, a former SEC trial lawyer may have to wait a year before representing a defendant in an agency enforcement action, according to Reuters.

7.1. lets try to figure out how to use that

7.2. the ponzi scheme one, definitely.

7.3. any other ideas i feel this is important info

7.4. we could use this to say who like it takes who leave more time to anything uness they make lots of $$$

8. how can we use this

8.1. an amazing opening for immediate shock value

8.2. these are epic examples on how revolving doors are bad

8.3. can be used to refute claims that the revolving door is actually helpful

9. When a former employee of a regulating agency tries to enter the field in which it was recenty in charge of.

10. example at http://www.pogo.org/our-work/reports/2013/dangerous-liaisons/overview.html

11. better example http://www.nakedcapitalism.com/2009/09/the-real-regulatory-revolving-door.html

12. we are for a law that will prohibit revolving doors

13. The SEC Office of Inspector General has identified cases in which the revolving door appeared to be a factor in staving off SEC enforcement actions and other types of SEC oversight, including cases involving Bear Stearns and the Stanford Ponzi scheme - SUPER IMPORTANT

13.1. A “counsel to a Commissioner who has a salary in excess of $200,000, has been privy to a wealth of confidential SEC information, and has high-level contacts at the SEC due to his position is currently able to leave the Commission and immediately represent industry interests to the Commission,” the watchdog observed.

14. The SEC looked over Bernard Madoff's ponzi scheme, ignoring multiple tips leading to him. An SEC Assistant Director of the Office of Compliance Investigations who was investigating the situation also suspiciously closed the heretofore investigation, while a short time later marrying Shana Madoff, Bernard's daughter.

14.1. Can be used to refute claims of the actual nature of the dark side of revolving door regulators, and how they can pull strings to change decisions inside companies to favor the company or the agency.

15. http://www.prwatch.org/news/2009/12/8813/problem-revolving-door-it-brought-us-too-big-fail

16. http://globalfoodpolitics.wordpress.com/2013/10/17/the-regulatory-revolving-door/