Commentary: New Mexico Ethics Watch, a new nonprofit in the state dedicated to promoting more ethics in governance, today releases its first report, Learning to Walk – New Mexico’s Anemic Financial Disclosure Regimen. The report discusses the Financial Disclosure Act and the release of personal financial information by elected and appointed state officials. This law is in place so that the public can see whether elected or appointed officials are operating to benefit themselves rather than their constituents. The Act, however, is extremely broad and non-specific, creating enormous loopholes and inhibiting the public from obtaining useful information. In addition, NMEW has found, after reviewing over 560 Financial Disclosure Statements from 2014 - 2016, that the Office of the Secretary of State does not seem to be conducting even a rudimentary review of these filings as multiple errors and omissions were discovered by NMEW.
NMEW concludes its report with a series of recommended reforms to the Financial Disclosure Act and its enforcement for the Secretary of State and the Legislature.
NMEW, amongst other recommendations, calls on the Office of the Secretary of State to review the Financial Disclosure Statements thoroughly, reject forms that are improperly completed, and pursue enforcement of the Act against late filers and those who neglect to follow the Act’s rudimentary requirements. NMEW also calls on the Secretary of State to make the Financial Disclosure Statements available on its website so that the public and press have immediate access to these filings.
NMEW calls on the Legislature to make important changes to the Financial Disclosure Act to close loopholes and require additional information to be disclosed by state officials required to report under the Act.
NMEW Executive Director Douglas Carver said that a follow up report will be conducted later in 2017 to see what progress has been made by both the Secretary of State and the Legislature.
“We want to give the incoming Secretary of State and the Legislature a chance to address the loopholes and vagaries surrounding the Financial Disclosure Act,” Carver said. “The Financial Disclosure Statements are fundamental to having open and transparent governance in our state.”
New Mexico Ethics Watch is a non-partisan organization founded in 2016 dedicated to promoting ethics and accountability in government and public life. NMEW advances its mission through research, litigation, policy advocacy, and media outreach.
The full report can be accessed at the following web address: