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NEW YORK – Today, Everytown for Gun Safety Support Fund, part of Everytown for Gun Safety, sent a Freedom of Information Act request to the Securities and Exchange Commission requesting any communication between SEC employees and the NRA, and any documents detailing the SEC’s position on Citigroup’s policies for customers engaged in processing firearms transactions.
STATEMENT FROM NICK SUPLINA, MANAGING DIRECTOR FOR LAW AND POLICY FOR EVERYTOWN FOR GUN SAFETY:
“Citigroup took measures to protect the public from gun violence. Americans deserve to know whether the NRA pushed Commissioner Piwowar to abuse his power and retaliate against Citigroup for supporting sensible gun policy.”
In March, Citigroup announced that it would implement new guidelines for its customers engaging in firearms transactions, including: requiring its customers to sell firearms only to people 21 years of age or older; requiring completed background checks on all gun sales; prohibiting its customers from selling bump stocks; and prohibiting its customers from selling high-capacity magazines.
In April, during a meeting between Citigroup executives and the SEC regarding derivatives regulation, Republican-appointed SEC Commissioner Michael Piwowar reportedly threatened retaliatory action against Citigroup over its new firearms transactions rules.
Last week, Senators Chris Van Hollen (D-MD), Richard Blumenthal (D-CT), Dianne Feinstein (D-CA), Kamala Harris (D-CA), Robert Menendez (D-NJ) and Chris Murphy (D-CT) sent a letter to SEC Inspector General Carl Hoecker calling for an investigation into Piwowar’s conduct.
A copy of the FOIA request is available here.
Did you know?
The U.S. gun homicide rate is 25 times higher than that of other high-income countries.
Grinshteyn, E. and Hemenway, D. “Violent Death Rates in the US Compared to Those of the Other High-income Countries, 2015.” Preventive Medicine. (2019). https://bit.ly/3kyfsSs