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U.S. Securities and Exchange Commission

SEC FOIA Program
Freedom of Information Act
Annual Report for the Fiscal Year Ending
September 30, 2001

October 1, 2000 to September 30, 2001

I. Basic Information Regarding this Report

A.

Name:

Barry D. Walters

 

Title:

Freedom of Information/Privacy Act Officer

 

Address:

Securities and Exchange Commission (SEC)
Operations Center
6432 General Green Way, Mail Stop O-5
Alexandria, VA 22312-2413
Telephone number: (202) 942-4320
 

B.

The electronic address for this report on the SEC's World Wide Web site is
http://www.sec.gov/foia/arfoia01.htm
 

C.

To obtain a copy of this report in paper form, send a letter to:
Securities and Exchange Commission
Publications Branch
450 Fifth Street, NW
Mail Stop C-11
Washington, D.C. 20549

II. How to Make a FOIA Request

A copy of our publication "How to Make a FOIA Request" is available on the SEC's World Wide Web site at http://www.sec.gov/foia/howfo2.htm.

A.

 The FOIA/Privacy Act Office is centralized. FOIA requests are considered received by the SEC only when they reach the FOIA/PA Office (See 17 CFR 200.80 (d) (9) (ii). Written requests should be submitted to the FOIA/PA Officer by:

 

e-mail:

foia/pa@sec.gov
 

fax:

(703) 914-1149; or
 

mail:

SEC
Operations Center
6432 General Green Way, Mail Stop O-5
Alexandria, VA 22312-2413
 

B.

The SEC has two tracking systems (Fast-Track and First-In, First-Out (FIFO)), more commonly known as Simple and Complex requests. The Simple and Complex response times differ significantly. We are committed to processing our requests as expeditiously as possible. As such, in spite of the twenty-day statutory time limit, we responded to 1,395 Simple (Fast Track) requests within ten business days. This number represents more than half of the Simple requests processed this year. Requests in our Complex (FIFO) system required our review of an average of 42 boxes of records per month and resolution of about 21 requests for confidential treatment per month.
 

C.

Many requests received by the SEC are for investigatory records, consumer complaints, and nonpublic correspondence. Some of these requests were denied because the records related to on-going investigations (Exemption 7 (A)), personal privacy (Exemptions 6 and 7 (C)), and intra and inter-agency records (Exemption 5). In addition, we affirmatively responded to 60 requests for information in an electronic format (diskette and magnetic cartridge). The total programming and production cost charged to the requesters ranged from $0.75 to $250.00.

In compliance with the Electronic FOIA Amendments, we continued to post and update information to the agency's FOIA website for fiscal year 2001.

III. Definition of Terms and Acronyms

A.

Agency

 

Securities and Exchange Commission — SEC
 

B.

Basic Terms

  1. Freedom of Information Act (FOIA) request – a request for access to records concerning a third party, an organization or a particular topic of interest.
     
  2. Privacy Act (PA) request – a request for records concerning oneself; such requests are usually processed under both the PA and the FOIA.
     
  3. The Government in the Sunshine Act (GITSA) – a request for access to transcripts of SEC open meetings.
     
  4. Confidential Treatment Request (CTR) – a request by or on behalf of the submitter of a record and/or information that the SEC withhold the material under one or more of the FOIA exemptions.
     
  5. Initial Request – a written plea to the SEC for access to records under the FOIA, PA or GITSA.
     
  6. Appeal – a request to the SEC asking that the Office of General Counsel review a decision of the FOIA/PA Officer to fully or partially deny access to records under the FOIA or any other FOIA determination, such as a denial of a fee waiver or reduction.
     
  7. Processed Request or Appeal – a request or appeal for which the SEC has taken a final action on the request or appeal in all respects.
     
  8. Multi-track processing – a system in which requests requiring relatively minimal review are placed in one processing track and more voluminous requests are placed in other tracks.
     
  9. Expedited Processing – the SEC will process a FOIA request on an expedited basis when a requester has shown an exceptional need or urgency for the records which warrants prioritizing his or her request over other requests that were submitted earlier.
     
  10. Simple Request (Fast-Track) – a FOIA request for less than three boxes of material when an agency uses a multi-track system for processing requests.
     
  11. Complex Request (First-in, First-out (FIFO)) – a FOIA request for three or more boxes of material when an agency uses a multi-track system for processing requests.
     
  12. Grant – a decision to disclose all records in full in response to a FOIA request.
     
  13. Partial Grant – a decision to disclose a record in part in response to a FOIA request because all the information in the requested records is determined by the SEC to be exempt under one or more of the FOIA's exemptions; or a decision to disclose some records in their entireties but to withhold others in whole or in part.
     
  14. Denial – a decision to withhold any part of a record or records in response to a FOIA request because all the information in the requested records is determined by the SEC to be exempt under one or more of the FOIA exemptions.
     
  15. Time Limits – the time period in the FOIA for an agency to respond to a FOIA request (ordinarily twenty working days from receipt of an initial FOIA request).
     
  16. Exemption 3 Statute – a separate federal statute specifically prohibiting the disclosure of certain types of information and authorizing its withholding under FOIA Subsection (b) (3).
     
  17. Median Number – the middle, not average, number. For example, of 3, 7 and 14, the median number is 7.
     
  18. Days – working days which exclude weekends and federal holidays.

IV. Exemption 3 Statutes

List of Exemption 3 statutes relied on by the agency during current fiscal year:

  • 15 U.S.C. § 80b-10(b)
     
  • 15 U.S.C. § 80(a)-30
     
  • 15 U.S.C. § 78x(d)
     
  1. Brief description of the types of information withheld under each statute:
     
    • Investment Adviser Examination Records
       
    • Investment Company Examination Records
       
    • Records from Foreign Authorities
       
  2. Statement of whether a court has upheld the use of each statute. None.

V. Initial FOIA/PA Access Requests

A.

Number of Requests

 

1.

Number of requests pending as of the end of the preceding fiscal year:

151

 

2.

Number of requests received during current fiscal year:

2,5051

 

3.

Number of requests processed during current fiscal year:

2,527

 

4.

Number of requests pending as of end of current fiscal year:

129
 

B.

Disposition of Requests

 

1.

Number of total grants:

6582

 

2.

Number of partial grants:

3953

 

3.

Number of denials:

2324

    number of times each FOIA exemption used
 
Exemption 1:0
Exemption 2:97
Exemption 3:11
Exemption 4:111
Exemption 5:120
Exemption 6:186
Exemption 7(A):236
Exemption 7(B):0
Exemption 7(C):89
Exemption 7(D):0
Exemption 7(E):30
Exemption 7(F):0
Exemption 8:44
Exemption 9:0
 

4.

Other reasons for nondisclosure (total)

1,242

   
a.no records:832
b.referrals:209
c.request withdrawn:21
d.fee-related reason:77
e.records not reasonably described:6
f.not a proper FOIA request
for some other reason:		3
g.not an agency record:1
h.duplicate request:10
i.other (pending):83

VI. Appeals of Denials of FOIA/PA Requests

A.

Number of appeals

 

1.

Number of appeals received during fiscal year:

39

 

2.

Number of appeals processed during fiscal year:

415
 

B.

Disposition of appeals

 

1.

Number completely upheld:

28

 

2.

Number partially reversed:

3

 

3.

Number completely reversed:

106

    Number of times each FOIA exemption used: 7
 
Exemption 1:0
Exemption 2:11
Exemption 3:0
Exemption 4:7
Exemption 5:11
Exemption 6:4
Exemption 7(A):10
Exemption 7(B):0
Exemption 7(C):5
Exemption 7(D):0
Exemption 7(E):3
Exemption 7(F):0
Exemption 8:4
Exemption 9:0
 

4.

Other reasons for nondisclosure (total):

23

   
a.no records:1
b.referrals:0
c.request withdrawn:0
d.fee related reason:0
e.records not reasonably described:0
f.not a proper FOIA request
for some other reason:		1
g.not an agency record:2
h.duplicate request:0
i.search adequacy sustained:3
j.other (pending):16

VII. Compliance with Time Limits of Pending Requests

A.

Median processing times for requests processed during current year:

 

1.

Simple (Fast Track) Requests

   

a.

Number of requests processed:

2,512

   

b.

Median number of days to process:

9

 

2.

Complex (FIFO) Requests

   

a.

Number of requests processed:

12

   

b.

Median number of days to process:

82

 

3.

Number of requests afforded expedited processing:

3
 

B.

Status of Pending Requests:

  
 

1.

Number of requests pending as of end of current fiscal year :

129

 

2.

Median number of days Simple (Fast-Track) requests were pending:

16

 

3.

Median number of days Complex (FIFO) requests were pending:

186

VIII. Comparison with Previous Years (optional)

not reported

IX. Cost/FOIA Staffing

A.

Staffing levels

 

1.

Number of full time FOIA personnel:

18 8

 

2.

Number of personnel with part-time
   or occasional FOIA duties
   (in total work years):

41

 

3.

Total number of personnel
   (full and part time/occasional) :

59
 

B.

Total cost

 

1.

Incremental costs incurred in administering the FOIA:

$2,443,098.00

 

2.

Litigation-related activities:

$10,556.00

 

3.

Total costs:

$2,453,654.00

X. Fees

  1. The total amount of fees collected by the SEC for processing requests for fiscal year 2001 is $31,156.00. This figure represents search and review costs only. The SEC uses a private company under contract with the agency to duplicate records that exceed twenty pages. The contractor charged the requesters or the SEC (when free copies were provided) 24 cents per page for copies. The rate schedule, attached as Exhibit A, is formulated annually on a direct cost basis as set out in Office of Management and Budget Guidelines.
     
  2. Percentage of total cost: 1%

XI. FOIA Regulations

Links to the SEC's FOIA regulations are available on our website at http://www.sec.gov/foia.shtml.

Attachments

Endnotes

1 Requests include 2,476 FOIA requests, 10 GITSA requests, and 19 PA requests.

2 Determinations include 20 requests received in fiscal year 2000, but finalized in fiscal year 2001.

3 Determinations include 47 requests received in fiscal year 2000, but finalized in fiscal year 2001.

4 Determinations include 15 requests received in fiscal year 2000, but finalized in fiscal year 2001, denied in full.

5 This total includes 17 appeals filed in fiscal year 2000, but finalized in fiscal year 2001.

6 10 reversed in full, of which 5 were remanded to the FOIA Office for further processing upon a determination to no longer assert Exemption 7(A).

7 More than one exemption may be claimed for each appeal.

8 The equivalent of four full time FOIA positions were vacant during the year.

 

http://www.sec.gov/foia/arfoia01.htm
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Modified: 11/04/2004