Law360, New York (May 8, 2015, 7:11 PM EDT) -- The U.S. Securities and Exchange Commission’s enforcement division issued its first formal guidance Friday on how it decides which cases it will litigate in U.S. district court and which it will bring before the agency’s oft-criticized in-house tribunal.
In a four-page memo, the enforcement division did not directly attempt to defend the SEC’s administrative court from critics but did describe some of the factors that go into selecting which forum will hear a contested enforcement action.
“There is no rigid formula dictating the choice of forum,” the memo said. “Not all factors will apply in every case, and in any particular...
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