Written by Peggy Little
“On Tuesday Sen. Tom Cotton (R-Ark.) asked tough questions to the chairman of the Securities and Exchange Commission (SEC), Jay Clayton, during a banking committee hearing about an opaque form of regulation which has silenced Americans for far too long.
The SEC lawlessly enacted the pernicious “gag rule” in 1972 without going through notice-and-comment rule-making. The U.S. Commodity Futures Trading Commission quietly slipped a similar rule into place some years later. The rule requires that anyone who settles with the agency must remain silent about his or her prosecution — for life.”