Securities Law Updates | New Statutes, Regulations and Rules
February 3, 2010
SEC Amends Rules to Delegate Authority to Submit Witness Immunity Order Requests to the Director of Enforcement Division
Delegations of Authority to the Director of its Division of Enforcement
17 CFR PART 200, Release No. 34-61339, 1/13/2010
The Securities and Exchange Commission (“SEC”,“ or “Commission”) has amended 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 (“DOJ”) for witnesses who have provided or have the potential to provide substantial assistance in the Commission’s investigations and related enforcement actions.
According to the SEC, 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.
This new…
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