Limitations on Classification. (1) In no case shall information be classified in order to conceal violations of law, inefficiency, or administrative error; to prevent embarrassment to a person, organization, or agency; to restrain competition; or to prevent or delay the release of information that does not re- quire protection in the interest of na- tional security. (2) Basic scientific research informa- tion not clearly related to the national security may not be classified. (3) The Chairman or other authorized original classifiers may reclassify in- formation previously declassified and disclosed if it is determined in writing that— (i) The information requires protec- tion in the interest of national secu- rity, and (ii) The information may reasonably be recovered. In making such determination, the Chairman or any other authorized original classifier shall consider the following factors: The lapse of time fol- lowing disclosure; the nature and ex- tent of disclosure; the ability to bring the fact of reclassification to the at- tention of persons to whom the infor- mation was disclosed; the ability to prevent further disclosure; and the ability to retrieve the information vol- untarily from persons not authorized access to its reclassified state. These reclassification actions shall be re- ported promptly to the Director of the Information Security Oversight Office. (4) Information may be classified or reclassified after an agency has re- ceived a request for it under the Free- dom of Information Act (5 U.S.C. 552) or the Privacy Act of 1974 (5 U.S.C. 552a), or the mandatory review provi- sions of the Order and these regula- tions, if such classification meets the requirements of the Order and is ac- complished personally and on a docu- ment-by-document basis by the Chair- man, the Vice Chairman, or the Secu- rity Officer.
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Sources: Compliance Agreement, Fdic Agreement