SEC's Republican-led commission tightens oversight of probes, sources say

[misskit]

Lawyers at the U.S. Securities Exchange Commission (SEC) have been told they need to seek permission from the politically appointed leadership before formally launching probes, two sources briefed on the matter said, in a marked change in procedure that could slow down investigations.

The change, which has not been previously reported, was made under new leadership at the SEC since President Donald Trump took office, the sources said, speaking on condition of anonymity as the move has not been made public.


Typically five commissioners, including the chair, oversee the independent agency. Currently, the Commission has three members — two Republicans and one Democrat. Commissioners are appointed by the president.


In recent days, some enforcement staff have been told that they will need to seek the Commission's approval for all formal orders of investigation, which are required to issue subpoenas for testimony or documents, the sources said.


Previously, such authority had been delegated to lower-level staff. The Commission had the right of refusal — something that it didn't always exercise.


Reuters could not determine whether the Commission had voted to formally revoke the delegation of that authority, or who ordered the change.


An SEC spokesperson declined to comment. The White House did not respond to a request for comment.

MORE SEC's Republican-led commission tightens oversight of probes, sources say

[misskit]

Setting things up to get away with stocks manipulation.

[david44]

Setting things up to get away with stocks manipulation.

Exactly , with events be it AI shocks or random Tariffs plenty of loot for insiders.

[harrybarracuda]

Setting things up to get away with stocks manipulation.

2008 again here we come.