U.S. Securities and Exchange Commission

Securities Exchange Act of 1934

Release No. 69479 / April 30, 2013

Report on Administrative Proceedings

For the Period October 1, 2012 through March 31, 2013

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 October 1, 2012 through March 31, 2013

Matters Before the Administrative Law Judges

10/01/2012-

03/31/2013

04/01/2012-

09/30/2012

10/01/2011-

03/31/2012

Number pending at start of period 69 73 60

New matters added during period 82 106 101

Subtotal 151 179 161

Dispositions: 78 110 88

Initial Decisions 12 12 20

Other dispositions

(e.g., settlements, defaults)1

66 98 68

Total pending at end of period 73 69 73

Initial Decisions: 132 14 21

Median age at decision (days) 145 128 139

 Number issued within guideline 

 or specified time period

10 13 18

Matters Before the Commission

10/01/2012-

03/31/2013

04/01/2012-

09/30/2012

10/01/2011-

03/31/2012

Review of ALJ Matters3

Number pending at start of period 19 17 10

New matters added during period 4 7 10

Subtotal 23 24 20

Dispositions:

Opinions 3 4 1

Other dispositions

(e.g., dismissals)

4 1 2

Total pending at end of period 16 19 17

Dispositions:

Median age at decision (days) 328.5 321 484

Number decided within guideline4 1 0 1

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

proceeding.

2

 One Initial Decision is a FY 2012 matter which was reopened. 3

 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.

4 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

10/01/2012-

03/31/2013

04/01/2012-

09/30/2012

10/01/2011-

03/31/2012

Review of Self-Regulatory Organization Decisions5

Number pending at start of period 136 8 14

New matters added during period 11 6 11

Subtotal 24 14 25

Dispositions: 7 2 17

Opinions 3 0 11

Other dispositions 

(e.g., dismissals, remands)

4 2 6

Total pending at end of period 17 12 8

Dispositions:

Median age at decision (days) 336.5 38.5 259

Number decided within guidelines7 0 2 7

10/01/2012-

03/31/2013

04/01/2012-

09/30/2012

10/01/2011-

03/31/2012

Miscellaneous Matters

Interlocutory Motions:

Number pending at start of period 0 0 0

Number filed during period 0 0 2

Number decided during period 0 0 2

Total pending at end of period 0 0 0

Median age at decision (days) 0 0 15.5

Number decided within 45 days 0 0 2

Stay Requests:

Number pending at start of period 0 0 0

Number filed during period 3 1 2

Number decided during period 3 1 2

Total pending at end of period 0 0 0

Median age at decision (days) 20 34 23

Number decided within guidelines8 0 0 2

 5 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. 6 Updated number includes remand from Court of Appeals. 7 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. 8 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.