A data loss incident involving SEC Chair Gary Gensler’s government-issued smartphone has prompted concerns about transparency and accountability. In September 2023, the agency’s Office of Inspector General (OIG) revealed that text records from October 2022 to September 2023 had been erased after a factory reset following an application removal. The OIG report also found that the SEC hadn’t implemented backup systems during this period, further contributing to data loss. This incident may hamper the SEC’s ability to fulfill Freedom of Information Act (FOIA) requests and has fueled criticism about the SEC’s lack of transparency. The OIG recommends the SEC strengthen its communication records management by establishing clear protocols for disabling devices, better oversight of automated policies, and implementing robust backup systems. The report serves as a reminder of how administrative errors can impact official record-keeping. While some of the lost data may never be recovered, this incident underscores the need for the SEC to ensure that future lapses don’t erode public trust.