U.S. Securities and Exchange Commission 

Securities Exchange Act of 1934 

Release No. 60909/October 30, 2009 

Report on Administrative Proceedings 

For Period April 1, 2009 through September 30, 2009 

Rule 900 of the Commission’s Rule of Practice (17 CFR 201.900) requires the 

Commission’s Secretary to issue a six-month status report on the Commission’s administrative 

proceedings caseload. 

The attached report identifies the number of matters pending before the administrative 

law judges and the Commission at the beginning of the six-month period; the number of matters 

instituted, filed, and disposed of during the period; and the number pending at the end of the 

period. For each category of decision, the report shows the median age of the matters at the time 

of decision and the number of matters decided within the guidelines in Rule 900 for the timely 

completion of adjudicatory proceedings or within the time specified in orders instituting 

proceedings for issuance of an initial decision, or any extension granted by the Commission. 

Finally, the report includes data from the previous two six-month periods. 
 

 

 

 

 

Report on Administrative Proceedings 

for the Period April 1, 2009 through September 30, 2009 

Matters Before the Administrative Law Judges 

04/01/2009- 

09/30/2009 

10/01/2008- 

 03/31/2009 

04/01/2008- 

09/30/2008 

Number pending at start of period 25 80 32 

New matters added during period 85 33 106 

Subtotal 110 113 138 

Dispositions: 77 88 58 

Initial Decisions 16 16 10 

Other dispositions 

(e.g., settlements, defaults)1 

61 72 48 

Total pending at end of period 33 25 80 

Initial Decisions: 16 16 10 

Median age at decision (days) 105 163 224 

 Number issued within guideline 

 or specified time period 13 12 7 

Matters Before the Commission 

04/01/2009- 

09/30/2009 

10/01/2008- 

03/31/2009 

04/01/2008- 

09/30/2008 

Review of ALJ Matters2 

Number pending at start of period 12 13 12 

New matters added during period 4 6 5 

Subtotal 

Dispositions: 

16 19 17 

Opinions 5 4 4 

Other dispositions 

(e.g., dismissals) 

0 3 0 

Total pending at end of period 

Opinions: 

11 12 13 

Median age at decision (days) 211 418 374 

Number decided within guideline3 3 2 0 

1

 Includes all proceedings disposed of other than by an initial decision, including default orders that dispose of the entire proceeding. 2

 May include review of initial decisions, review of other non-interlocutory ALJ matters, and matters on remand from the Courts of 

Appeals. 3

 Guideline for matters appealed 7/17/03 or later is seven months, or 11 months if the Commission determines that a matter 

presents unusual complicating circumstances. 
 

 

 

 

 

 

 

 

Matters Before the Commission 

04/01/2009- 

09/30/2009 

10/01/2008- 

 03/31/2009 

04/01/2008- 

09/30/2008 

Review of Self-Regulatory Organization Decisions4 

Number pending at start of period 12 17 24 

New matters added during period 4 8 5 

Subtotal 

Dispositions: 

16 25 29 

Opinions 5 13 9 

Other dispositions 

(e.g., dismissals, remands) 

1 0 3 

Total pending at end of period 

Dispositions: 

10 12 17 

Median age at decision (days) 266 320 268 

Number decided within guidelines5 2 1 3 

04/01/2009- 

09/30/2009 

10/01/2008- 

03/31/2009 

04/01/2008- 

09/30/2008 

Miscellaneous Matters 

Interlocutory Motions: 

Number pending at start of period 0 0 0 

Number filed during period 0 0 0 

Number decided during period 0 0 0 

Total pending at end of period 0 0 0 

Median age at decision (days) 0 0 0 

Number decided within 45 days 0 0 0 

Stay Requests: 

Number pending at start of period 0 0 0 

Number filed during period 1 7 2 

Number decided during period 1 7 2 

Total pending at end of period 0 0 0 

Median age at decision (days) 11 12 3 

Number decided within guidelines6 1 0 2 

4

 May include matters filed pursuant to Section 11A of the Securities Exchange Act of 1934. 5

 Guideline for matters appealed 7/17/03 or later is seven months, or 11 months if the Commission determines that a matter 

presents unusual complicating circumstances. 6

 Guideline is either five days or 45 days from the date for opposing the motion, depending on the effective date of the order 

requested to be stayed.