Securities and Exchange Commission Freedom of Information Act Reference Guide

Nov. 2, 2015

The Securities and Exchange Commission Freedom of Information Act Reference Guide (FOIA Reference Guide) provides consolidated guidance for making Freedom of Information Act requests to the Securities and Exchange Commission (SEC). Much of the information provided in the FOIA Reference Guide can also be located elsewhere on the SEC’s website.

This Reference Guide is designed to assist the public in understanding how the FOIA process works at the SEC and how to request records from the SEC. The SEC’s rules for making FOIA requests are set forth in the SEC’s FOIA regulations which are available on the SEC’s FOIA website under “FOIA Guidance.” See CFR : 17 CFR § 200.80 -- Securities and Exchange Commission Records and Information. However, this FOIA Reference Guide is designed to familiarize you with the specific procedures for making FOIA requests, FOIA appeals, and Privacy Act requests to the SEC.

What records can I obtain?

Initially, it is important to understand that there is no central office in the government that processes FOIA requests for all federal agencies. Each federal agency responds to requests for its own records. Therefore, before sending a request to the SEC you should determine whether the SEC is likely to have the records you are seeking. Each federal agency is required to provide reference material to assist those who wish to request records from them. Accordingly, you should view the websites of any federal agency which might have records you seek. By doing so you will learn what records are already available on the agency’s website and you will also be able to determine which agency is likely to maintain the records you seek. FOIA Contact information for federal agencies can be centrally located at FOIA.gov - Freedom of Information Act.

The SEC maintains public and non-public records. Public records, such as registration statements and reports filed by regulated companies and individuals, SEC decisions and releases, staff manuals, no-action and interpretive letters, and public comments on proposed rules, are available on the SEC’s website. Additionally, most public filings since September 1995 and other public records are also on the SEC’s website at SEC.gov | Search Filings.

A FOIA request is required to obtain non-public records, such as records compiled in investigations, consumer complaints, and certain staff comment letters. We will release non-public records, unless the record is protected by one of nine FOIA exemptions. If we can reasonably segregate and redact exempt information from a requested record, we will release to you the rest of the record. In addition to FOIA exemptions, there are three special protection provisions, referred to as record "exclusions." The FOIA exclusions are reserved for certain specified circumstances.

The formal rules for making FOIA requests to the SEC are set forth in the SEC’s regulations. A copy of these regulations is available at the end of this Reference Guide. In most cases this FOIA Reference Guide should provide you with all of the basic information that you will need for submitting FOIA requests and appeals.

Accessing certain Commission records without a FOIA request

The Commission’s website, located at SEC.gov | Home, should be the starting point for anyone interested in the SEC. It contains detailed information about all SEC activities. The website includes news, press releases, proposed rules, final rules, information on rule making activity, corporate filings, and various datasets. Many resources are posted as well as information on all the offices and divisions of the SEC, such as Corporation Finance, Enforcement, Trading and Markets, and Examinations. Information is available about past and present SEC Chairs and Commissioners, as well as speeches and statements given by the Chair, Commissioners, and SEC staff. There are webcasts of prior meetings organized by meeting type and schedules for upcoming meetings of the SEC, public appearances of senior SEC officials, and other events. Also, many of the records commonly requested through FOIA are already available online, such as:

Additionally, you may find that information you are interested in is already posted on the Frequently Requested Documents section of the SEC’s FOIA website.

The SEC’s electronic automated certification service is no longer available. Please do not submit a FOIA request seeking to obtain certified records from the SEC. Agencies are not required to provide certified copies of agency records in response to FOIA requests.

How do I make a FOIA request?

Requests can be sent using our online form, via email at foiapa@sec.gov, or through theSEC’s Public Access Link and the National FOIA Portal. They can also be faxed to 202-772-9337 or sent by mail to: 100 F Street NE, Mail Stop 2465, Washington D.C. 20549. A FOIA request may be made for any agency record. There are statutory exemptions that authorize the withholding of information of a sensitive nature. The FOIA’s exemptions protect, for example, classified information, commercial and financial information, personal information, privileged records, and law enforcement interests. When the SEC withholds information from you, it ordinarily must specify which exemption(s) of the FOIA applies to the information being protected. However, you should also be aware that the FOIA does not require agencies to do research for you, to analyze data, to answer written questions, or to create records in response to a FOIA request.

A FOIA request for a copy of an SEC record can be made by any individual, private organization, or public organization, other than another federal agency. The SEC does not require a special form when making a FOIA request. The request must: (1) be in writing and include the requester's full name and a legible return address; (2) include the notation “Freedom of Information Act Request,” in your email or on the front of your request envelope and also at the beginning of your request letter; and (3) reasonably describe the records sought (by name, date, and subject matter). See 17 C.F.R. §§ 200.80(b)(1) and (3).

Be sure to provide your name, address, and telephone number on your request. You may also provide your email address if you would like to have any releasable records delivered to you electronically. You need not say why you want the records. Please limit a request to one subject. If records are required on more than one subject, please submit a request for each subject. If a request contains multiple subjects, it may be divided into multiple requests for more efficient processing.

Under certain circumstances you may be entitled to receive more information under the Privacy Act of 1974 (a separate federal statute) than under the FOIA. Generally, under the FOIA anyone can request access to any federal agency record. Privacy Act requests are more limited and can be made only by (a) U.S. citizens or aliens lawfully admitted for permanent U.S. residence, (b) who are seeking information about themselves, (c) which is maintained in a system of records and accessed using their names or other personal identifiers. Even if a request does not mention the Privacy Act, the SEC automatically treats applicable requests as being made under both the FOIA and the Privacy Act. In this way, requesters receive the maximum amount of information available to them under the law.

Privacy Act requests

Under the Privacy Act of 1974, 5 U.S.C. § 552a, you may send a written request for access to records about yourself to the Office of FOIA Services by using ouronline form, via email at foiapa@sec.gov, fax (202-772-9337), or mail your request to the Office of FOIA Services (100 F Street NE, Mail Stop 2465, Washington, D.C. 20549). Include information that will assist the SEC's staff in identifying the records you are seeking. We will grant or deny access to your records within 30 business days from the date the Office of FOIA Services receives your written request. If there are unusual circumstances, we will notify you in writing within the 30-day period that, for good cause, a longer time is needed to respond.

Identity Verification Process:

A requester who is making a request for records about himself or herself must comply with the following verification of identity provisions in order to obtain any documents that would not be available to the public under the FOIA:

  • After you receive an acknowledgement email/letter from the SEC's Office of FOIA Services confirming that your request has been submitted successfully, your identity must be verified.
  • Complete a Request for Individual Access to Records Under the Privacy Act if you are seeking access to your records or records pertaining to you.
  • Complete a Consent for Disclosure of Records Under the Privacy Act if you are authorizing the SEC to disclose your records to another person or entity. For requests for records about another individual, you may receive greater access by submitting either a notarized authorization signed by the individual permitting disclosure of his or her records or proof that the individual is deceased (e.g., a copy of a death certificate or an obituary).
  • Please do not complete either of these forms until you receive the acknowledgement email/letter that will provide you with an SEC Request Number that must be used to complete these forms. The SEC Request Number field should be populated only with that number provided in your acknowledgement email/letter.

The Privacy Act also permits an individual to request an amendment or correction of a record pertaining to the individual and permits an individual to request an accounting of agency disclosures of their Privacy Act records.

What are the fees?

There is no initial fee payment required to submit a FOIA request. However, the FOIA does provide for the charging of certain types of fees in some instances.

For purposes of fee assessment only, the FOIA divides requesters into three categories. The first category includes commercial-use requesters, who may be charged fees to (1) search for records responsive to a request, (2) review any responsive records that are located to determine the applicability of any FOIA exemptions, and (3) duplicate the records to respond to a request. The second category includes educational or noncommercial scientific institutions and representatives of the news media, who are charged only duplication fees, and are provided the first one hundred pages free of charge. The third category includes all other requesters, who are charged only for record searches and duplication with the first two hours of search time and the first one hundred pages of duplication free of charge. The SEC charges $0.15 per page for each copy or image produced of 8-1/2 x 11" documents, and the actual cost of production for all other types of media. Additionally, the SEC charges an hourly search fee that approximates the salary, benefits, and experience level of the personnel conducting the search and/or review. For the current calendar year, the fees would be assessed as follows:

  • SK-8 or below: $29/hour
  • SK-9 to 13: $61/hour; and
  • SK-14 or above: $89/hour

The SEC can charge FOIA requesters in quarter-hour increments.

You ordinarily will not be required to pay the fees until the records have been processed and are ready to be sent to you. If, however, you have failed to pay fees within thirty days of billing in the past, or if the fee estimate exceeds $250, you may be required to pay the estimated fees in advance – that is, before the records are even processed. If you agree to pay fees and then fail to do so within thirty days of billing, you may be charged interest on your overdue balance and the SEC will not proceed with any further requests from you until payment in full has been made. If you agree to pay fees for a records search, be aware that you may be required to pay such fees even if the search does not locate any responsive records, or if records are located but they are determined to be entirely exempt from disclosure. If you have any questions about a fee estimate or assessment you should feel free to contact the SEC’s Office of FOIA Services.

Can the fees be waived?

If you expect or are advised that a fee will be charged, you may request a waiver of those fees. The FOIA permits a waiver of fees if release of the records is in the public interest because it (a) is likely to contribute significantly to public understanding of SEC operations or activities, and (b) is not primarily in the requester's commercial interest. Requests for fee waivers from individuals who are seeking records pertaining to themselves usually do not meet this standard because such disclosures usually benefit the individual requester rather than increase the public’s understanding of government operations and activities. In addition, a requester’s inability to pay fees is not a legal basis for granting a fee waiver.

If your request for fee waiver is denied, you will be provided appeal rights to appeal that decision to the SEC's Office of the General Counsel.

Can I expedite the request?

Under certain conditions you may be entitled to have your request processed on an expedited basis. You will be granted expedited processing if you demonstrate a compelling need for the information requested. "Compelling need" means: (1) that a failure to obtain requested records on an expedited basis could reasonably be expected to pose an imminent threat to an individual's life or physical safety; or (2) the request is made by a person primarily engaged in disseminating information to the public and the information is urgently needed to inform the public concerning an actual or alleged Federal Government activity. You must also submit a statement, certified by you to be true and correct to the best of your knowledge and belief, explaining why there is a compelling need for the records.

FOIA Staff will inform you within 10 calendar days from the date of your request for expedited processing if your request will be expedited. If your request for expedited processing is denied, you will be provided appeal rights to appeal that decision to the SEC's Office of the General Counsel.

When will I receive a response to my request?

By law, barring unusual circumstances, all federal agencies are required to respond to a FOIA request within 20 business days, excluding Saturdays, Sundays, and legal public holidays. If there are unusual circumstances, a one-time 10-workday extension of time may be taken. This time period generally begins when the request is actually received by the FOIA office.

The SEC receives thousands of FOIA requests each year. Many of these requests require a line-by-line review of hundreds or even thousands of pages of documents. Although the SEC makes every effort to respond to FOIA requests as quickly as possible, in some cases it simply cannot do so within the specified time period.

Under the FOIA, the SEC may extend the 20-day response time when “unusual circumstances” exist. Unusual circumstances exist when:

  1. The SEC needs to search for and collect records from separate offices;
  2. The request involves a “voluminous” amount of records that must be located, compiled, and reviewed; or
  3. The SEC needs to consult with another federal agency or two or more SEC Divisions or Offices that have an interest in the responsive information.

When such a time extension is needed, the SEC will notify you of this in writing and offer you the opportunity to modify or limit the scope of your request. Alternatively, you may agree to a different timetable for the processing of your request. The SEC’s FOIA Public Liaisons can assist you with this.

Are there any records that are exempted or excluded from FOIA?

Once the SEC has processed your request and any fee issues have been resolved, the SEC will send you a written initial determination. In most cases, the SEC will include all documents that can be disclosed along with the determination letter, though in some cases the documents themselves may be sent to you separately, within a reasonable time after the determination letter has been sent to you. The determination letter will advise you of whether any information is being withheld pursuant to one or more of the statutory exemptions. When a record is being withheld in its entirety, the SEC ordinarily will specify the number of pages being withheld or make a reasonable effort to estimate the volume of the withheld information. Where a record is being withheld in part, the withheld portions of the record will ordinarily be specifically marked with applicable exemptions.

The FOIA authorizes an agency to withhold information when it reasonably foresees that disclosure would harm an interest protected by one of nine exemptions covering:

  1. Classified national defense or foreign relations information;
  2. Internal agency personnel rules and practices;
  3. Information that is prohibited from disclosure by another federal law;
  4. Trade secrets and other confidential or privileged commercial or financial information;
  5. Inter-agency or intra-agency communications that are protected by legal privileges;
  6. Information involving matters of personal privacy;
  7. Records or information compiled for law enforcement purposes, to the extent that the production of those records:
    1. could reasonably be expected to interfere with enforcement proceedings,
    2. would deprive a person of a right to a fair trial or an impartial adjudication,
    3. could reasonably be expected to constitute an unwarranted invasion of personal privacy,
    4. could reasonably be expected to disclose the identity of and/or information provided by a confidential source,
    5. would disclose techniques and procedures for law enforcement investigations or prosecutions, or would disclose guidelines for law enforcement investigations or prosecutions, or
    6. could reasonably be expected to endanger the life or physical safety of any individual;
  8. Information relating to the supervision of financial institutions; or
  9. Geological information about wells.

Congress also provided special protection in the FOIA for three narrow categories of law enforcement and national security records. The provisions protecting those records are known as "exclusions." The first exclusion protects the existence of an ongoing criminal law enforcement investigation when the subject of the investigation is unaware that it is pending, and disclosure could reasonably be expected to interfere with enforcement proceedings. The second exclusion is limited to criminal law enforcement agencies and protects the existence of informant records when the informant's status has not been officially confirmed. The third exclusion is limited to the FBI and protects the existence of foreign intelligence or counterintelligence, or international terrorism records when the existence of such records is classified. Records falling within an exclusion are not subject to the requirements of the FOIA. Accordingly, when the SEC responds to your request it will limit its response to those records that are subject to the FOIA.

What is a “Glomar” response?

A FOIA request can be narrowly targeted so that by its very terms, merely acknowledging the existence of responsive records would or could cause harm. In such circumstances, the FOIA provides agencies with the authority to neither confirm nor deny the existence of responsive records because acknowledging the existence of such records could impact an interest protected by a FOIA exemption. For FOIA requests made to the SEC, this occurs most often when the request seeks records about a specific individual in the context of an enforcement investigation, and the SEC (or the individual in question) has not previously made any related information about the individual publicly available. For example, if you seek information that would show that someone else (including your spouse or another member of your immediate family) has ever been associated with an SEC investigation (either as a subject of the investigation, a witness, or merely mentioned in an SEC investigative file), the Office of FOIA Services will typically respond by stating that it can “neither confirm nor deny” the existence of any responsive records, in accordance with FOIA exemptions 6 and 7(C) to protect the individual’s personal privacy. In these instances, the Office of FOIA Services is not required to conduct a search for records responsive to the request or perform an analysis to identify segregable portions of such records. To possibly avoid this response, you can submit an authorization signed by that individual or proof that the individual is deceased.

Additional information about Neither Confirm Nor Deny responses is provided by the National Archives, the Office of Government Information Services at NCND/Glomar: When Agencies Neither Confirm Nor Deny the Existence of Records | National Archives.

Can I appeal the response to my request?

You may file an administrative appeal if you are not satisfied with the Office of FOIA Services’ interim or final response. You may also file an administrative appeal if you have requested expedited processing, a fee waiver, or placement into a specific fee category and the Office of FOIA Services has not granted that request. You may also appeal a determination that what has been requested is not reasonably described, that the record does not exist or cannot be located, that a record is not readily reproducible in the form or format requested, that the requested information is not a record subject to the FOIA, or a determination regarding the estimation or assessment of a fee. You may administratively appeal any adverse determination made by the Office of FOIA Services in response to your request.

You will be advised of your right to file an administrative appeal of the Office of FOIA Services’ response containing the adverse determination. You will also be advised that you have the option to contact the Office of FOIA Services’ FOIA Public Liaison or the Office of Government Information Services (OGIS) at the National Archives and Records Administration.

If you elect to file an appeal, it must be in writing and to be considered timely it must be received within 90 calendar days from the date of the denial. Appeals can be filed using our online form at: SEC.gov | Freedom of Information Act Appeal They can also be emailed to foiapa@sec.gov, faxed to 202-772-9337, or sent by mail to: 100 F Street NE, Mail Stop 2465, Washington, D.C. 20549.

Administrative appeals are reviewed by an attorney in the SEC’s Office of the General Counsel. The attorney will have available all the files pertaining to the processing of your request by the Office of FOIA Services and will make an independent determination as to whether the Office of FOIA Services has properly handled your request.

Under the FOIA, the Office of the General Counsel is ordinarily required to make a determination on your administrative appeal within 20 business days. The Office of the General Counsel may take one of several actions on your administrative appeal. It may affirm the Office of FOIA Services’ action in full. Alternatively, it may affirm part of the action, but otherwise “remand” the request in part for the Office of FOIA Services to take some further action. Finally, it may remand the request to the Office of FOIA Services in its entirety for further action. When any part of a request is remanded, you will have an opportunity to appeal again to the Office of the General Counsel if you are dissatisfied in any respect with the Office of FOIA Services’ action on remand.

Can I request confidential treatment for information I submit to the SEC?

The Commission's Rule 83 (17 C.F.R. § 200.83) provides a procedure by which persons submitting information may request that it be withheld when requested under the FOIA. It applies in the context of examinations, inspections, and investigations, and in other cases where no procedures exist for requesting confidential treatment for particular categories of information.

Under Rule 83, the submitter of information must mark each page with "Confidential Treatment Requested by [name]" and an identifying number and code, such as Bates-stamped number. The words "FOIA Confidential Treatment Request" must appear on the top of the first page of the request. The submitter must include his or her name, address, and telephone number and inform the FOIA Office of any change of address, telephone number, or representation.

A written request must be given to the staff receiving the record and a copy of the confidential treatment request, but not the record, should be sent to the FOIA Office via email at Rule83CTRs@sec.gov, by fax at (202) 772-9337, or mailed to 100 F Street NE, Mail Stop 2465, Washington, DC 20549.

It may be impractical to submit a written request when the record is first given to the staff, such as in the course of a testimony or an examination or inspection. In that case, the witness or the submitter of the record must inform the staff receiving it that he or she is requesting confidential treatment at the time the record is submitted or as soon afterwards as possible. He or she must then submit a written request within 30 calendar days from the date of the testimony or the submission of the record.

The requester may claim personal or business confidentiality, but need not substantiate his or her request until the FOIA Office notifies him/her of a FOIA request for the records. A confidential treatment request will expire 10 years from the date the FOIA Office receives it, unless that Office receives a renewal request before it expires.

Additionally, Executive Order No. 12,600, issued on June 23, 1987, formally establishes a procedural structure for notifying those who submit business information to the government when that information becomes the subject of a FOIA request. It is based upon the principle that business submitters are entitled to such notification and an opportunity to object to disclosure before an agency makes a possible disclosure determination. See Executive Orders | National Archives for additional information regarding Executive Order 12,600.

Resolving disputes

The Office of FOIA Services has FOIA Public Liaisons who are supervisory officials to whom you may turn if you are dissatisfied with the services provided by the Office of FOIA Services. The FOIA Public Liaison can assist you throughout the request process, from working with you to arrange an alternative time frame for processing your request, to increasing understanding regarding the status of your request, or assisting you in resolving disputes. The SEC’s FOIA public liaisons can be reached at 202-551-7900 or foiapa@sec.gov.

In addition, the Office of Government Information Services (OGIS), an office created within the National Archives and Records Administration, offers mediation services to FOIA requesters. They may be contacted in any of the following ways:

Office of Government Information Services

National Archives and Records Administration

8601 Adelphi Road (OGIS)

College Park, MD 20740-6001

Email: ogis@nara.gov

Phone: 202-741-5770

Toll-free: 1-877-684-6448

Finally, the FOIA provides requesters with the right to challenge an agency’s action in federal court. Before doing so, you ordinarily will be required to have first filed an administrative appeal.

Where can I find guidance and resources related to FOIA?

Find more information about the FOIA and Privacy Act, SEC implementing regulations, and fees:

FOIA Statute

Regulations

Securities and Exchange Commission FOIA Regulations

Securities and Exchange Commission Privacy Act Regulations

Securities and Exchange Commission Confidential Treatment Regulations


FOIA Fees


Other FOIA Resources

Last Reviewed or Updated: March 20, 2025