Instructions for Parties

including guidelines regarding 

protected, confidential, or sensitive information

Office of Administrative Law Judges

U.S. Securities and Exchange Commission

100 F Street NE, Mail Stop 2585

Washington, DC 20549

Phone: (202) 551-6030 Fax: (202) 777-1031 Email: alj@sec.gov

This information is primarily for parties1 appearing in Securities and 

Exchange Commission (SEC or the Commission) administrative proceedings 

before an administrative law judge. If you have questions regarding the record 

of a case, documents posted on the SEC’s website, or electronic filing through 

the SEC’s Electronic Filings in Administrative Proceedings (eFAP) system, 

please contact the Office of the Secretary at (202) 551-5400. 

For eFAP system access or technical issues, contact (202) 551-EFAP (3327).

Part I:

General Instructions

Administrative proceedings are governed by the SEC’s rules of practice found 

at 17 C.F.R. § 201.100 et seq. The rules are available online here. All parties, 

including pro se respondents,

2 are expected to be familiar with and abide by 

these rules. Parties must also familiarize themselves with the Office of the 

Secretary’s eFAP instructions and user manual governing electronic filing. 

Legal Representation

Respondents may retain their own legal counsel to represent them3 and are 

encouraged to do so. The SEC cannot, however, appoint or pay for a 

 

1 As used in this document, the term party or parties usually means 

Respondents and the Division of Enforcement. Non-party case participants 

should follow these instructions to the extent applicable.

2 A respondent is the person or entity charged in an administrative 

proceeding instituted by the Commission. In this context, pro se means a 

respondent who is not represented by an attorney but instead appears on his 

or her own behalf.

3 17 C.F.R. § 201.102.
2

respondent’s legal counsel. The judges and staff in the Office of Administrative 

Law Judges cannot provide legal advice to you. 

Communications with the Office of Administrative Law Judges

If your case has been assigned to an administrative law judge and you have a 

procedural question, you may send your question to alj@sec.gov (copying all 

other parties) or call our office at (202) 551-6030. You may not engage in 

prohibited ex parte communications, which are communications with 

the judge or attorneys in the Office of Administrative Law Judges—

outside the presence of all parties—about the merits of a case or about 

factual or legal issues.4 For this reason, you must copy all other parties on 

your emails to our office, and you may call our office only with procedural 

questions. 

If you wish to express anything about the merits of a case or factual or legal 

issues (for example, if you wish to challenge or support the allegations in an 

order instituting proceedings), you must do so by either (1) filing a written 

submission (such as a pleading, brief, or motion) in accordance with the rules 

of practice and any schedule set by the judge, or (2) raising the issue during a 

conference or hearing in the presence of both the judge and other parties.

How to File Your Written Submissions and Other Documents

As of April 12, 2021, every party’s written submissions (such as any notice of 

appearance, pleading, brief, motion, or other document) must be filed 

electronically through the eFAP system, unless the party submits a 

certification of inability to file electronically.5 Please refer to Office of the 

Secretary’s eFAP instructions for detailed filing requirements, including 

required redactions.6 

During the 90-day phase-in period from April 12 to July 12, 2021, 

parties must also—in addition to filing through eFAP—either (1) email a copy 

of each written submission or document to apfilings@sec.gov or (2) file paper 

 

4 17 C.F.R. §§ 201.111(d), .120, .322; see also 17 C.F.R. § 200.111. 

5 17 C.F.R. § 201.152(a). 

6 See also 17 C.F.R. § 201.151(e) and Part II of this document. Redaction 

means removing or obscuring protected, confidential, or sensitive information 

in a document. Please see Adobe’s guidance on how to redact PDFs.
3

copies with the Office of the Secretary.7 Please copy alj@sec.gov on your 

submissions to apfilings@sec.gov. 

If you are filing in paper format, send or deliver an original and three copies to:

Office of the Secretary

U.S. Securities and Exchange Commission

100 F Street NE, Mail Stop 1090

Washington, DC 20549

Serving Other Parties 

The party filing a written submission or any other document is responsible for 

serving that document on all other parties. You cannot fulfill this service 

requirement by filing your document through eFAP. You can comply with this 

requirement by emailing a copy of your document to the other parties, in 

accordance with the rules of practice and the Office of the Secretary’s 

instructions.8 You must include a certificate of service with each filing, per 

Rule 151(d).9 Please see the example certificate of service posted on the ALJ 

website under Quick Links.

If you are unable to serve the other parties electronically, you must file a 

certification explaining your inability to do so with the Office of the Secretary 

and serve copies of your written submissions or documents on the other parties 

by one of the additional methods of service listed in Rule 150(d).10

Service of ALJ Orders and Initial Decisions

When the judge issues an order or initial decision in your case, eFAP will send 

a notice to the email address you provided in the eFAP system, and you can log 

into eFAP to download the document.11 If you cannot be served electronically, 

documents will be sent to your mailing address of record, which you must keep 

current on file with the Office of the Secretary.12

 

7 17 C.F.R. § 201.152(g). 

8 17 C.F.R. § 201.150(c); eFAP instructions, items 3.4 and 3.6. 

9 17 C.F.R. § 201.151(d). 

10 17 C.F.R. § 201.150(d).

11 See eFAP instructions, item 3.7.

12 17 C.F.R. §§ 201.102(d), .141(b), .150(c), (d).
4

Orders and initial decisions issued by the administrative law judges are posted 

on the SEC’s website shortly after they are issued:

Webpage for ALJ Orders

Webpage for ALJ Initial Decisions

Official Record and Online Posting of Documents

All filings are included in each proceeding’s official record maintained by the 

Office of the Secretary. In eFAP, you may view the record of your case. The 

Office of the Secretary posts certain filings online under open and closed

proceedings on the SEC’s website. This online posting of filings is not the 

official record. To comply with the Privacy Act and other laws, SEC staff 

reviews documents before publicly posting them online and redacts 

information to protect personal privacy or to comply with a confidentiality 

order.

13

Phases of Your Case

Prehearing

Respondents must file an answer within 20 days after being served with the 

order instituting proceedings (OIP), unless a different period is provided by 

rule or order.14 Unless otherwise ordered, the Division of Enforcement is 

required to make its investigative file available to a respondent for inspection 

and copying no later than seven days after the respondent is served with the 

OIP.15

When a prehearing conference is scheduled with the presiding judge, it is 

usually held by telephone. Parties should be prepared to discuss the topics 

listed under Rule 221(c).16 

Discovery and prehearing disclosures are available in certain cases, in 

accordance with the rules of practice and any procedural schedule set by the 

presiding judge.17 It is necessary to file a request for issuance of subpoenas for 

 

13 See Administrative Proceeding Documents.

14 17 C.F.R. §§ 201.160, .220.

15 17 C.F.R. § 201.230.

16 17 C.F.R. § 201.221(c).

17 17 C.F.R. §§ 201.222, .231 to .234.
5

the production of documents or requiring the testimony of witnesses at a 

hearing or at a deposition.18 You must file your request, provide a copy of your 

request and subpoena forms to the Office of Administrative Law Judges, and 

serve a copy of the request on all other parties. All parties should use the 

subpoena forms available on the ALJ website under Quick Links. If the judge 

issues the subpoena, our office will return the signed subpoena to the 

requesting party, who is responsible for serving the subpoena.

In certain cases, one or more issues may be resolved based on the parties’ 

written submissions and documents, such as through a procedure called 

summary disposition.19 When a party moves for summary disposition, the 

party is asking the judge to decide the proceeding or specific issues based on 

written evidentiary materials, without a live hearing. To oppose summary 

disposition, you may not simply rely on bare allegations or denials.

20 Rather, 

you must submit evidence—such as declarations, your own affidavit and/or the 

affidavits of others, prior testimony, documentary evidence, or facts that can 

be officially noticed under Rule 323—countering the facts asserted by the 

moving party and raising specific facts showing that the matter requires a 

hearing. 

If a respondent does not file a timely answer, respond to a dispositive motion, 

appear at a prehearing conference or hearing, or otherwise defend the 

proceeding, the judge may find the respondent in default, deem true the OIP’s 

allegations, and order relief.21 

If a live hearing is ordered, the parties may be required to exchange copies of 

exhibits and the names of their witnesses in advance of the hearing and to file 

prehearing briefs.22 Do not use eFAP to file exhibits that are being 

exchanged between the parties before the hearing; the filing of 

exhibits occurs after the hearing, as explained below.

 

18 17 C.F.R. § 201.232.

19 17 C.F.R. § 201.250.

20 See James S. Tagliaferri, Exchange Act Release No. 80047, 2017 SEC 

LEXIS 481, at *26 (Feb. 15, 2017).

21 17 C.F.R. §§ 201.155(a), .220(f), .221(f), .310.

22 17 C.F.R. § 201.222(a).
6

Hearing 

The hearing process is similar to a federal bench trial. Hearings are 

presumptively public.23 Hearing transcripts may be purchased at prescribed 

rates.24 Our office cannot provide transcripts to parties. If a respondent is 

unable to afford a copy of the transcript, the respondent must file a motion and 

evidence demonstrating such inability to pay, and the judge will decide 

whether to direct the court reporter to furnish a copy of the transcript to the 

respondent.

Before the hearing, parties should confer and, to the extent possible, coordinate 

the presentation of witness testimony and other evidence so that the hearing 

will run efficiently. 

At the hearing, the parties may make opening statements if permitted by the 

judge. Even if the judge allows opening statements, parties may waive this 

option and instead just file prehearing briefs. The Division of Enforcement 

usually will present witnesses and offer exhibits first since it has the burden 

of proof, but the judge has the discretion to allow the parties to present 

evidence out of order. Subject to the judge’s procedures, a respondent has the 

right to present witnesses, offer exhibits, and cross-examine witnesses 

presented by the Division. In turn, the Division may cross-examine witnesses 

presented by a respondent.

A party may object to testimony (including questions posed to a witness) or 

documentary evidence on the grounds that it is irrelevant, immaterial, unduly 

repetitious, or unreliable.25 A pro se respondent called to testify may object to 

questions posed to him or her on these same grounds. 

An adverse inference may be drawn from a respondent’s refusal to testify or 

answer questions about matters within the respondent’s knowledge, even if 

 

23 17 C.F.R. § 201.301.

24 17 C.F.R. § 201.302(b).

25 17 C.F.R. § 201.320. A party may object to hearsay evidence on these same 

grounds. Federal court rules on the exclusion of hearsay evidence do not 

govern SEC administrative proceedings. Amendments to the Commission’s 

Rules of Practice, 81 Fed. Reg. 50,212, 50,226–27 & nn.141, 142 (July 29, 2016).
7

such refusal is based on the Fifth Amendment privilege against selfincrimination.26 

Post-hearing 

At the conclusion of a hearing, the judge sets the schedule for the parties to file

proposed findings and conclusions and supporting briefs.27 

At the conclusion of the hearing or shortly thereafter, the parties file their 

hearing exhibits at the direction of the presiding judge.28 Hearing exhibits 

should be segregated and labeled in two categories—(1) admitted exhibits, or 

(2) exhibits offered but not admitted (excluded). Do not file exhibits that were 

not offered at the hearing unless you seek and obtain permission from the 

judge. Along with your hearing exhibits, you must include the required 

certification under Rule 351(c)(3).29 You must seek approval before filing 

hearing exhibits on a disc or thumb drive.30

The parties also should jointly email to alj@sec.gov a list of exhibits admitted 

into evidence and exhibits offered but not admitted (excluded). The joint 

exhibit list should be in MS Excel or Word format and contain columns with 

the following information: the exhibit number; a description of the exhibit; the 

Bates-stamp numbers, if any; and page(s) in the hearing transcript in which 

the exhibit was offered and admitted or not admitted. The joint exhibit list 

does not take the place of the required filing of hearing exhibits. After the 

hearing and filing of briefs and exhibits in your case, the Office of the Secretary 

will issue a record index listing all materials in the official record. The parties 

will have the opportunity to review the record index and propose corrections 

within three days of service of the record index.

31

 

26 See Baxter v. Palmigiano, 425 U.S. 308, 318 (1976); Guy P. Riordan, 

Exchange Act Release No. 61153, 2009 SEC LEXIS 4166, at *65–66 (Dec. 11, 

2009), pet. denied, 627 F.3d 1230 (D.C. Cir. 2010); Strathmore Secs., Inc., 

Exchange Act Release No. 8207, 1967 SEC LEXIS 563, at *35–36 (Dec. 13, 

1967), pet. denied, 407 F.2d 722 (D.C. Cir. 1969).

27 17 C.F.R. § 201.340.

28 For details on how to filing hearing exhibits, see eFAP instructions, items 

5.4, 6.1. 

29 17 C.F.R. § 201.351(c)(3). 

30 eFAP instructions, items 4.3, 4.4. 

31 17 C.F.R. § 201.351(b).
8

Part II:

Guidelines regarding

protected, confidential, or sensitive information

Parties are directed to follow this guide so that their filings and conduct at 

hearings do not result in public disclosure of protected, confidential, or 

sensitive information. 

Covered information

The following is a non-exhaustive list of categories of protected, confidential, 

or sensitive information. You generally must omit this information from 

your filings and take measures to ensure that such information is not 

disclosed during a public hearing. If information in one of the following 

categories is necessary for the judge to decide a matter, you must seek and 

obtain permission from the judge to include it in the record under seal in 

accordance with Rule 322,32 as further explained in the instructions regarding 

party filings.

(1) Any information that could reasonably be expected to reveal the 

identity of a whistleblower.33

(2) Information concerning suspicious activity reports (SARs) and other 

reports under the Bank Secrecy Act, including any information that 

would reveal the existence of a SAR.34

(3) Sensitive personal information, such as: 

a. An individual’s social security number, taxpayer identification 

number, financial account numbers (including bank account, 

brokerage account, and investment account numbers), credit 

card or debit card numbers, passport number, driver’s license 

number, or state-issued identification number. 

b. An individual’s home address (other than city and state) and 

telephone number.

c. An individual’s date of birth (other than year).

 

32 17 C.F.R. § 201.322.

33 15 U.S.C. § 78u-6(h)(2)(A).

34 31 U.S.C. § 5318(g)(2)(A)(ii); 31 C.F.R. § 1023.320(e)(2).
9

d. Names and initials of minor children.

e. Unnecessary health information identifiable by individual, such 

as an individual’s medical records.35

(4) Any other information protected by law.

36

However, the following information may be included and is not 

required to be redacted from filings:

(1) The last four digits of a financial account number, credit card or debit 

card number, passport number, driver’s license number, and stateissued identification number.

(2) Home addresses and telephone numbers of parties and persons filing 

documents with the SEC.

(3) Business telephone numbers.

(4) Copies of unredacted filings by regulated entities or registrants that 

are available on the SEC’s public website.37

In addition to these categories, parties may move to protect other types of 

information as well, such as sensitive information about an individual’s 

financial condition.

Instructions regarding party filings

You generally must omit from your filings as much protected, confidential, or 

sensitive information as possible; if not omitted, you generally must redact 

such information. Specifically, when filing a document in eFAP, you will be 

required to confirm compliance with the rules concerning the redaction or 

 

35 17 C.F.R. § 201.151(e); see also 42 U.S.C. § 290dd-2(a), (c) (protecting 

“[r]ecords of the identity, diagnosis, prognosis, or treatment of any patient 

which are maintained in connection with the performance of any program or 

activity relating to substance use disorder education, prevention, training, 

treatment, rehabilitation, or research . . . .”).

36 See, e.g., 12 C.F.R §§ 261.2(b)(1), (c), .20(a) (protecting confidential 

supervisory information within the meaning of the rules of the Board of 

Governors of the Federal Reserve System).

37 17 C.F.R. § 201.151(e)(1); see also Amendments to the Commission’s Rules 

of Practice, 85 Fed. Reg. 86,464, 86,466–68 (Dec. 20, 2020).
10

omission of sensitive personal information, in accordance with Rule 151(e) and 

the Office of the Secretary’s eFAP instructions, item 4.1.

If your filing contains protected, confidential, or sensitive information that you 

believe is necessary for the judge to decide a matter, you must move for the 

unredacted filing to be maintained under seal in accordance with Rule 322.

When moving for a protective order under Rule 322, you generally should 

submit two versions of the document that is the subject of your request—an 

unredacted copy (referred to as a “sealed” copy) and a redacted copy—in 

accordance with the Office of the Secretary’s eFAP instructions, item 5.2. You 

may be excused from the need to file a redacted copy if you seek and obtain 

permission from the judge to file a document under seal in its entirety without 

redactions. 

Instructions regarding Form D-A

A respondent who claims an inability to pay monetary sanctions should file a 

Form D-A, pursuant to Rule of Practice 630.38 The form and accompanying 

instructions are available online here. In adopting Rule 630, the Commission 

observed:

Early submission of a financial disclosure form to support 

a planned claim of inability to pay will allow the hearing 

officer and parties to better prepare for hearing and to 

assess the time needed for the hearing. Part I of Form DA requires only summary information as to which 

confidentiality interests are limited. Part II requires 

detailed back-up information that is more likely to call for 

personal, confidential data, such as bank account 

numbers and information about regular medical 

payments.39

Instructions regarding hearing exhibits

In its prehearing exhibit list, a party must identify exhibits that contain 

protected, confidential, or sensitive information. At the hearing, the party who 

anticipates seeking admission of an exhibit under seal must promptly alert the 

judge and briefly explain whether any testimony or discussion related to the 

exhibit may involve protected, confidential, or sensitive information. In their 

 

38 17 C.F.R. § 201.630.

39 Rules of Practice, 60 Fed. Reg. 32,738, 32,792–93 (June 23, 1995) 

(comment to adoption of 17 C.F.R. § 201.630(c)).
11

joint post-hearing exhibit list, the parties must identify any exhibits offered or 

admitted under seal. 

Instructions regarding hearing testimony

A party must alert the presiding judge if it anticipates that a portion of any 

hearing testimony may involve protected, confidential, or sensitive 

information. As administrative proceedings are presumptively public, parties 

should avoid situations that require closing the hearing room unless testimony 

involving protected, confidential, or sensitive information is necessary for the 

judge to decide a matter. 

Instructions regarding investigative files

The Division of Enforcement may move for entry of an order to protect 

confidential information in its investigative file before it produces a copy to the 

respondents.