The seal of the US Securities and Exchange Commission (SEC) can be found at the headquarters of Washington DC in the United States.
Andrew Kelly | Reuters
Two information explained about this issue that lawyers of the US Securities and Exchange Commission (SEC) need to ask for permission from politically appointed leadership before the probe officially launched a probe. The source states in a remarkable change of procedures that can delay the survey.
This change, which has not been reported earlier, stated that the information was made under new guidance at the SEC since President Donald Trump took office, and said that it was anonymous because the movement was not disclosed. 。
Usually, five commissioners, including the chair, supervise independent institutions. Currently, the committee has three members. Two Republican members and one Democratic member. The commissioner is appointed by the president.
Recently, some executive staff have been told that it is necessary to request the committee approval for all the formal investigation orders required to issue a summoning letter for testimony or documents. The information stated.
Previously, such authority was delegated to low -level staff. The committee had the right to refuse -it did not always exercise.
Reuters could not judge whether the committee had officially voted for the representative of the authority or who ordered the change.
SEC’s spokesman refused to comment. The White House did not respond to the comment request.
Supporters of such changes argue that they will reduce the harm to the individuals in the survey, but others will deprive them of the staff’s autonomy.
Since Trump has become the president, Republican Mark Ueda has led an institution with the Republican Hester Perth and the Democratic Party Caroline Clen Show.
Last month, the former chairman Gary Genler and the Democratic Party Haime Resoraga resigned. Uyeda retains its position as chairman of the acting committee until Paul Atkins, a former SEC member tapped on Trump to become the SEC chairman. Atkins is expected to suddenly turn the Biden administration in a way to crack down on the capital market.
SEC execution staff can informally investigate without such approval, such as sending information requests.
In recent history, the SEC has delegated the authority to officially investigate the executive director or other senior staff. Under the last administration, the supervisor of the executive manager was able to issue such an order, but during Trump’s previous administration, the SEC officially launched a probe by two executive directors. I demanded approval.
This movement is one of the first changes in the SEC execution under a new leadership, and is expected to be friendly to the industry.
Stephen Pekin, a co -director of SEC execution under Jay Clayton, a Republican Party, could cause such changes under the new administration. I guessed.
“I think focusing on official order authorities is a great waste of fees,” Peykin said.
Indeed, this change does not mean that there are few surveys to be released, which means that the commissioner is executing more early in the process.
The president signed an order on his first day, swearing to end the “weapon” of the federal government, including the SEC. The meaning of SEC’s order remains unknown.
