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Re: flipper44 post# 20148

Wednesday, 10/01/2014 5:40:21 PM

Wednesday, October 01, 2014 5:40:21 PM

Post# of 691263
Perhaps this has something to do why some of these "reporters" feel emboldened?
Reporters’ Privilege News - SEC Changes Policy Regarding Subpoenaing Reporters - see page 19 regarding Cramer et al.
www.silha.umn.edu/assets/pdf/bulletin2006spring.pdf
includes:

After as many as nine reporters were subpoenaed in an effort to gain information about questionable practices in stock trading earlier this year, criticism led the Securities and Exchange Commission (SEC) to create policy that set limits on subpoenaing reporters in the future.


On Feb. 25, 2006, The New York Times reported that Dow Jones Newswires columnist Carol S. Remond and MarketWatch.com columnist Herb Greenberg had been subpoenaed by the SEC for information about stock declines covered in their articles. Remond’s and Greenberg’s articles had stated that Gradient Analytics and Camelback Research Alliance had worked to manipulate the costs of shares for other companies, including Overstock.com. According to the New York Post, Overstock.com is involved in a California lawsuit accusing the two companies of conspiring to drive down the price of its shares. The subpoena sought telephone records, e-mails and other documents related to Overstock.com, the New York Post reported.


On February 28, the New York Post reported that another journalist, Jim Cramer of The Street.com, had also been subpoenaed.


In an effort to “strike the proper balance between the public’s interest in the free dissemination of ideas and information and the public’s interest in effective enforcement of the federal securities laws,” the new policy limits seeking information from news media unless it is unobtainable from other, non-media sources. Like many shield laws, as well as the Attorney General’s guidelines (see 28 C.F.R. §50.10) for subpoenaing journalists, the new policy also requires the SEC to make “reasonable effort” to obtain information from those other sources and to determine whether the information sought is essential to the investigation.


... and see the further restrictions mentioned in this article ....

The SEC’s Policy Statement is available online at
http://www.sec.gov/news/press/2006/2006-55.htm.
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