TITLE

SEC Amends Rules to Speed Administrative Proceedings

AUTHOR(S)
Hume, Lynn
PUB. DATE
June 2003
SOURCE
Bond Buyer;6/13/2003, Vol. 344 Issue 31656, p4
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The Securities and Exchange Commission (SEC) has amended its "rules of practice" to speed up administrative proceedings and appeals by setting mandatory deadlines by which such proceedings should be completed. The amendments are to become effective 30 days after they are published in the Federal Register. The amendments would reduce to seven months from 11 months the deadline for the SEC to issue opinions on appeals of administrative law judges' initial decisions. The amendments also encourage parties to administrative proceedings not to request extensions, postponements, or adjournments, except when the requesting party can make a strong case showing that the denial of such a request would substantially prejudice its case.
ACCESSION #
10112145

 

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