Limit on SEC Enforcement Authority May Mean Fewer Actions

On March 10, the Republican-led U.S. Securities and Exchange Commission (SEC) published a final rule revoking the director of the Division of Enforcement's long-standing authority to issue formal orders of investigation. David L. Axelrod, practice leader of Ballard Spahr's Securities Enforcement and Corporate Governance Litigation Group, and Erin K. Fountaine, a member of the group, wrote about the implications of this decision for Law360.

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