Regulatory Alerts2025-06-20 | 2025-11332Added
Policy Statement Concerning Agency Referrals for Potential Criminal Enforcement
The Securities and Exchange Commission issued this final rule and policy statement pursuant to Executive Order 14294 to establish a framework for staff consideration of whether to refer potential violations, including criminal regulatory offenses, to the Department of Justice. The Commission requires staff to evaluate specific factors when making referral decisions, such as the harm caused, potential defendant gain, specialized knowledge, intent, recidivism, and investor protection. This policy statement does not create any enforceable rights or benefits for parties against the United States and is effective as of June 20, 2025.
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