U.S. Securities and Exchange Commission 

Securities Exchange Act of 1934 

Release No. 64313/April 20, 2011 

Report on Administrative Proceedings 

For the Period October 1, 2010 through March 31, 2011 

 Rule 900 of the Commission’s Rules 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, 2010 through September 30, 2010 

Matters Before the Administrative Law Judges 

10/01/2010-

3/31/2011 

4/01/2010-

9/30/2010 

10/01/2009- 

03/31/2010 

Number pending at start of period 47 39 33 

New matters added during period 82 92 74 

Subtotal 129 131 107 

Dispositions: 72 84 68 

Initial Decisions 8 10 5 

Other dispositions 

(e.g., settlements, defaults)1

64 74 

63 

Total pending at end of period 57 47 39 

Initial Decisions: 9 10 5 

Median age at decision (days) 173 146 128 

 Number issued within guideline 

 or specified time period 8 7 5 

Matters Before the Commission 

10/01/2010-

3/31/2011 

4/1/2010-

9/30/2010 

10/01/2009- 

03/31/2010 

Review of ALJ Matters2

Number pending at start of period 6 7 11 

New matters added during period 5 7 4 

Subtotal 11 14 15 

Dispositions: 2 8 8 

Opinions 2 5 6 

Other dispositions 

 (e.g., dismissals) 

0 3 2 

Total pending at end of period 9 6 7 

Dispositions: 

Median age at decision (days) 245 266 407 

Number decided within guideline3 4 4 2 

 

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. Does not include review of ALJ matters where the review is being conducted by an Office other than the 

General Counsel. 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 

10/01/2010-

3/31/2011 

4/01/2010-

9/30/2010 

10/01/2009- 

03/31/2010 

Review of Self-Regulatory Organization Decisions4

Number pending at start of period 9 12 10 

New matters added during period 12 7 11 

Subtotal 21 19 21 

Dispositions: 3 10 9 

Opinions 2 6 7 

Other dispositions 

(e.g., dismissals, remands) 

1 4 2 

Total pending at end of period 18 9 12 

Dispositions: 

Median age at decision (days) 250 206 225 

Number decided within guidelines5 1 6 4 

10/01/2010-

3/31/2011 

4/01/2010-

9/30/2010 

10/01/2009- 

03/31/2010 

Miscellaneous Matters

Interlocutory Motions: 

Number pending at start of period 0 0 0 

Number filed during period 1 0 0 

Number decided during period 1 0 0 

Total pending at end of period 0 0 0 

Median age at decision (days) 112 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 4 3 4 

Number decided during period 4 3 4 

Total pending at end of period 0 0 0 

Median age at decision (days) 32 26 10 

Number decided within guidelines6 3 1 3 

 

4

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

Section 105(e) of the Sarbanes-Oxley Act. 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.