Regulatory Alerts2025-03-14 | 2025-04064Added
Delegation of Authority to Director of the Division of Enforcement
The Securities and Exchange Commission is amending its regulations to eliminate the delegation of authority to the Director of the Division of Enforcement to issue formal orders of investigation. This change removes the Director's power to authorize specific enforcement staff to issue subpoenas, a delegation previously established in 2009 and extended in 2010. The Commission states that this amendment aligns investigative resource usage with agency priorities and increases operational effectiveness without substantially affecting non-agency parties.
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