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News
September 25, 2015

SEC Set to Overhaul In-House Courts?

Is the U.S. Securities and Exchange Commission on the cusp of overhauling how its in-house administrative courts operate, following high profile criticisms from a variety of sectors, including the U.S. Chamber?

“Among the changes under consideration by the regulator is letting people sued in its administrative courts depose witnesses, according to a statement issued Thursday,” reports Bloomberg. “Another proposal would give defendants more time to prepare for key hearings, the SEC said.”

SEC commissioners voted Thursday to seek public comment on the reforms for 60 days. Commissioners would have to hold a second vote for the changes to become binding.

“The proposals ‘seek to modernize’ how the agency’s in-house court operates, said SEC Chairwoman Mary Jo White,” reports Bloomberg.

Read the full story here.

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