Final Rule
Delegation of Authority to Director of Division of Enforcement
Overview
The Commission is amending its rules to delegate authority to the Director of the Division of Enforcement to issue formal orders of investigation. These orders designate the enforcement staff authorized to issue subpoenas in connection with investigations under the federal securities laws. This action is intended to expedite the investigative process by removing the need for enforcement staff to seek Commission approval prior to performing routine functions. The Commission is adopting this delegation for a one-year period, and at the end of the period will evaluate whether to extend the delegation (though any formal orders issued during this period will remain in effect).
Resources
Details
Rule Type
Final
Release Number
34-60448
SEC Issue Date
Aug. 5, 2009
Effective Date
August 11, 2009
Federal Register Publish Date
Aug. 11, 2009
Document Citation
74 FR 40068