Reason Foundation

Reason Foundation

House Votes to Expand SEC Ability to Investigate

Anthony Randazzo
December 3, 2009, 12:46pm

Yesterday, the House passed the "Enhanced S.E.C. Enforcement Authority Act" to grant new authority to the Securities and Exchange Commission. The bill essentially says that if the SEC gets a court in any jurisdiction to issue a subpoena for witnesses and/or documents that the directive extends to any other jurisdiction. This will allow the SEC to act on its subpoenas nation wide. The bill passed by a voice vote, as it was generally regarded as a beneficial extension of SEC authority to make investigations easier.

Anthony Randazzo is Director of Economic Research

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