July 14, 2014
In reviewing the Freedom of Information Act Regulations (FOIA)and the Securities and Exchange commissions commentary on Fee Schedules, Addition of Appeal Time Frame, and Miscellaneous Administrative changes I Sheldon Patenett and close friend Mark Berger have the following commentary on the subject matter.
The proposed rule to update the fee structure that is currently used is supported by financial advisors, business owners, logical individuals, elderly people in nursing homes, working class individuals in Washington D.C., retirees in southern Florida, and the like from Chicago to California. As with all things in life inflation and costs of living do increase over time. As the cost of labor in our country continues to increase our government should not be held to sanctions not allowing them to raise their rates. As the OMB guidelines state in complying with the FOIRA of 1986 that each agency and their fees are to be based upon their "direct reasonable operating costs of providing freedom of information act services.
Being able to recoup the higher costs is supported by the Joe Plumbers of the world, Mark Bergers of Chicago, and Jill Smiths of our great nation. A set fee of SK-8 or below: $29/hour SK-9 to 13: $61/ hour and SK-14 or above: $89/hour is acceptable to myself and the majority of individuals that I speak with in regards to our economy on both a macroeconomic and microeconomic level.
With regards to amending "17 CFR 200.80(e)(1) which provides that up to one-half hour of staff time devoted to searching for and reviewing Commission records will be provided without charge." Is of sound reasoning granted that we do not expect anybody to work for free for 1.5 hours and sly individuals who have taken advantage of making requests for information in multiple time spots that have taken up less than 1.5 hours each have gotten away without having to pay any fees but have been awarded the prospects of a United States government laborer.
I hope that my support of the revision and Mr. Bergers will resonate with others as it is of sound judgement.