On September 15th, the SEC released staff guidance on the application of Section 929I of the Dodd-Frank Act. The provision gives the Commission the authority to protect information gathered in its inspections and examinations process. The guidance instructs the staff on when and how to assert Section 929I so that it is applied consistently with the provision's intent and the principles of open government. The guidance addresses to what extent the Commission will rely on Section 929I in the context of both FOIA requests and discovery requests served on the Commission. On September 16th, SEC Chairman Mary L. Schapiro testified before the House Financial Services Committee regarding Section 929I. Bloomberg reported Congressional response to Schapiro's testimony. Response.