Overview

The Securities and Exchange Commission is proposing for public comment amendments to its Rules of Practice, Rules 210 and 221. Rule 210 currently prohibits any person from intervening or participating on a limited basis as a party or non-party in an enforcement proceeding, a disciplinary proceeding, or a proceeding to review a self-regulatory organization determination. The Commission is proposing to amend Rule 210 to permit representatives of any federal, state, or local criminal prosecutorial authority limited participation for the purpose of requesting a stay, in order to support efforts to bring criminal prosecutions arising out of securities violations. Rule 221 currently requires that parties generally participate in both an initial and a final prehearing conference. The Commission proposes requiring only one prehearing conference, in order to streamline the administrative process and conserve the parties' and the Commission's resources.