UNITED STATES

SECURITIES AND EXCHANGE COMMISSION
WASHINGTON,

D.C. 20549

OFFICE OF

LEGISLATIVE AND
INTERGOVERNMENTAL
AFFAIRS

April 28, 2017
The Honorable Jeb Hensarling
Chairman

Committee on Financial Services

U.S. House of Representatives
2129 Rayburn House Office Buildinj
Washington,
DC 20515
•&•

Dear Chairman Hensarling:

Thank you for your March 31. 2017 letter regarding the Committee on Financial
Service's (Committee) intent to treat as congressional records communications and documents
related to legislative, oversight and investigative matters exchanged between the Committee and
the Securities and Exchange Commission (Commission). Acting Chairman Piwowar has asked
me to respond on his behalf.

Commission staff recognize the Committee's interests in maintaining control of
congressional records and are diligently reviewing the Committee's request that the Commission
decline to produce the records described in your letter in response to requests under the Freedom

of Information Act. other provisions of law. or agreements to which the Commission may be a
party. As discussed with your staff the Commission is currently awaiting Senate action to
confirm the President's nominee to serve as the agency's Chairman, Jay Clayton. As the staffs
analysis of the Committee's request remains ongoing and in light of the pending change in
Commission leadership, we intend to respond more substantively to the Committee's letter after
Mr. Clayton has joined the Commission and had an opportunity to weigh-in on the staffs
analysis.

In the interim, I and my staff would be happy to respond to any questions from
Committee staff. Please do not hesitate to contact me at (202) 551-2010.
Sincerel:

Kslth Cassidy
Director