“Since we’ve been in this job, which has now been just about a year, the circumstances in which we’ve filed litigation actions as administrative proceedings have been fairly limited,” Avakian said. “And I would say broadly they’ve been limited to circumstances where either the charges that we’re pursuing are only available in the administrative forum, so think ‘failure to supervise of a broker/dealer’—something like that. Or where the principal relief we’re seeking is only available in the administrative forum, so barring someone from being in the securities business or where the person involved is a registered person, like a registered broker/dealer or an investment advisor.”
via House Republicans Lay Into SEC Enforcement Chiefs Over In-House Judges.
