Securities Law Updates | New Statutes, Regulations and Rules
June 22, 2009
SEC Amends Rules Granting Additional Authority to the OGC in the Conduct of Investigations
Delegation of Authority to the General Counsel
17 CFR Part 200, Release No. 34–59829, 4/28/2009
The Securities and Exchange Commission (“SEC”) has amended its rules to delegate to the General Counsel its authority to designate officers in authorized investigations conducted by the Office of General Counsel (“OGC”).
By way of background, the OGC of the SEC has the authority to conduct authorized investigations under Section 21 of the Securities Exchange Act of 1934 (15 U.S.C. 78u, “Exchange Act”) of possible violations by attorneys of the Commission Rules of Practice. In connection with these investigations, it may be necessary from time to time to amend the formal orders to add or remove officers designated to conduct…
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