The recent row over journalist subpoenas issued by the San Francisco regional office of the Securities and Exchange Commission has inspired the agency to put in writing a policy for their appropriate use, The New York Times reports. SEC Chairman Christopher Cox, following his scathing criticism of the subpoenas, told reporters that such moves would be a last-ditch effort to obtain information if all else fail. Saying he expects journalist subpoenas to be “exceedingly rare,” Cox stressed that “Our sensitivity to these First Amendment issues and journalistic responsibilities in no way requires us to back off from aggressive securities law enforcement.” The new policy is due in a couple of weeks, according to The Times.
