In the News

SEC Grants New Powers to Enforcers

“The Securities and Exchange Commission will allow its enforcement division to subpoena documents and compel testimony without the approval of the agency’s five commissioners, a major grant of new powers that is likely to fuel faster and more frequent investigations. Enforcement division director Robert Khuzami made the announcement in a speech on Wednesday to the New York City Bar Association. ‘[I]f defense counsel resist the voluntary production of documents or witnesses, or fail to be complete and timely in responses or engage in dilatory tactics, there will very likely be a subpoena on your desk the next morning,’ he said.”

The Washington Post
August 6th, 2009