Delegations of Authority to the Director of Its Division of Enforcement

The Securities and Exchange Commission ("Commission') is amending its rules to delegate authority to the Director of the Division of Enforcement ("Division') to submit witness immunity order requests to the Department of Justice for witnesses who have provided or have the potential to provide substantial assistance in the Commission's investigations and related enforcement actions. This delegation is intended to conserve Commission resources, enhance the Division's ability to detect violations of the federal securities laws, increase the effectiveness and efficiency of the Division's investigations, and improve the success of the Commission's enforcement actions.