SEC Enforcers Get Permanent Subpoena Power

Law360, New York (August 12, 2010, 1:28 PM EDT) -- The U.S. Securities and Exchange Commission has given its Enforcement Division permanent authority to subpoena documents and testimony without first seeking approval from SEC commissioners.

The agency decided last year to speed up the subpoena process in an effort to boost enforcement and increase the pace of its investigations. The initiative was given a one-year trial period that was set to expire Wednesday.

But with a final rule issued just as the trial period was ending, the new process will be made permanent, the agency said....
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