Statement by Securities and Exchange Commission Chairman Christopher Cox Concerning Subpoenas of Journalists
FOR IMMEDIATE RELEASE
Washington, D.C., Feb. 27, 2006 SEC Chairman Christopher Cox issued the following statement in response to media reports over the weekend that the agency had "ordered columnists at two Dow Jones publications to provide information about conversations that they had with stock traders and analysts":
The issuance of a subpoena to a journalist which seeks to compel production of his or her notes and records of conversations with sources is highly unusual. Until the appearance of media reports this weekend, neither the Chairman of the SEC, the General Counsel, the Office of Public Affairs, nor any Commissioner was apprised of or consulted in connection with a decision to take such an extraordinary step. The sensitive issues that such a subpoena raises are of sufficient importance that they should, and will be, considered and decided by the Commission before this matter proceeds further."