SEC Expands Enforcement Staff’s Power to Start New Investigations – WSJ

Wall Street’s main regulator will give more power to its enforcement staff to launch investigations, an early sign that it plans to become more assertive under the Biden administration.

The move by the Securities and Exchange Commission allows more enforcement supervisors to authorize investigations, permitting about 36 senior officials at the agency to subpoena companies and individuals for records or testimony. The agency during the Trump administration withdrew that authority from supervisors and allowed only two officials to approve new probes, saying it would result in more consistent decisions about which tips and complaints justified investigations.

Source: SEC Expands Enforcement Staff’s Power to Start New Investigations – WSJ