On July 12th, the Government Accountability Office ("GAO") issued a report on the SEC's revolving door policy. Although SEC ethics officials routinely advise current and former employees on post-employment and conflict-of-interest issues, the agency does not consistently document this advice, limiting the SEC's and employees' ability to demonstrate that appropriate consultation occurred and contributing to questions about the movement of employees between the SEC and the private sector. GAO recommends that the SEC establish standards for documentation of ethics advice on current and post-employment issues.