SEC Proposes Amendments to Rules Governing Administrative Proceedings

The SEC proposed amendments to its Rules of Practice governing administrative proceedings.

The proposed amendments would:

• adjust the timing of administrative proceedings, including by extending the time before a hearing occurs in appropriate cases;
• permit parties to take depositions of witnesses as part of discovery;
• require parties in administrative proceedings to submit filings and serve each other electronically;
• require parties to redact certain sensitive personal information from filings;
• include procedures related to the mechanics of the proposed expanded deposition practice, such as location, methods of recording, forms of objections and duties of the deposition officer;
• simplify the requirements for seeking SEC review of an initial decision; and
• provide enhanced transparency of the timing of the SEC's decisions in such appeals.