FAIR Act 2001 Inventory
The "Federal Activities Inventory Reform Act," P.L. 105-270 (the FAIR Act), requires Federal agencies to prepare by June 30th of each year inventories of their commercial activities performed by Federal employees. Upon completion of this process, a copy of the inventory must be transmitted to Congress and made available to the public. In compliance with the FAIR Act, the SEC's inventory follows.
The FAIR Act establishes a two-step administrative challenge and appeals process under which an interested party, as defined by the act, may challenge the omission or inclusion of a particular activity on the inventory.