Luke Cadigan

1 month ago | jdsupra.com | Luke Cadigan |Andrew Goldstein |Elizabeth Skey

On March 10, 2025, the US Securities and Exchange Commission (SEC) adopted a final rule that will require a majority of the Commissioners to agree before the SEC formally opens an investigation. For the past 15 years, that power had been delegated to the SEC’s director of the Division of Enforcement – enabling SEC staff attorneys to issue subpoenas to companies and individuals without approval of the Commission.