Document ID: SEC-2011-0851-0001
Agency: sec
Document Type: Rule
Title: Delegation of Authority to the Director of Division of Enforcement
Posted Date: 2011-06-17T04:00Z

[Federal Register Volume 76, Number 117 (Friday, June 17, 2011)]
[Rules and Regulations]
[Pages 35348-35349]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-15030]

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SECURITIES AND EXCHANGE COMMISSION

17 CFR Part 200

[Release No. 34-64649]

Delegation of Authority to the Director of Its Division of 
Enforcement

AGENCY: Securities and Exchange Commission.

ACTION: Final rule.

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SUMMARY: The Securities and Exchange Commission (``Commission'') is 
amending its rules to delegate authority to the Director of the 
Division of Enforcement (``Division'') to issue witness immunity orders 
to compel individuals to give testimony or provide other information. 
This delegation is intended to conserve Commission resources, enhance 
the Division's ability to detect violations of the Federal securities 
laws, increase the effectiveness and efficiency of the Division's 
investigations, and improve the success of the Commission's enforcement 
actions.

DATES: Effective Date: June 17, 2011.

FOR FURTHER INFORMATION CONTACT: Samuel Waldon, Assistant Chief 
Counsel, (202) 551-4710.

SUPPLEMENTARY INFORMATION: The Commission is amending its rules 
governing delegations of authority to the Director of the Division of 
Enforcement. The amendment to Rule 30-4(a)(14) (17 CFR 200.30-4(a)(14)) 
authorizes the Division Director to issue orders to compel individuals 
to give testimony or provide other information pursuant to 18 U.S.C. 
6002-6004. This delegation follows on the Commission's prior 
delegation, effective January 19, 2010, of the authority to submit 
witness immunity requests to the Department of Justice, in connection 
with judicial proceedings, to compel testimony or the production of 
other information by witnesses who have provided or have the potential 
to provide substantial assistance in the Commission's investigations 
and related enforcement actions. See 75 FR 3122 (January 19, 2010). 
This delegation is intended to further conserve Commission resources, 
enhance the Division's ability to detect violations of the Federal 
securities laws, increase the effectiveness and efficiency of the 
Division's investigations, and improve the success of the Commission's 
enforcement actions. Notwithstanding anything in the foregoing, in any 
case in which the Director believes it appropriate, the Director may 
submit the matter to the Commission. The Commission is adopting this 
amendment for a period of 18 months, and, at the end of that period, 
will evaluate whether to extend the delegation to issue immunity 
orders.
    The Commission finds, in accordance with the Administrative 
Procedure Act (``APA'') (5 U.S.C. 553(b)(3)(A)), that this revision 
relates solely to agency organization, procedures, or practices. It is 
therefore not subject to the provisions of the APA requiring notice and 
opportunity for comment. Accordingly, it is effective June 17, 2011.

List of Subjects in 17 CFR Part 200

    Administrative practice and procedure, Authority delegations 
(Government agencies).

    For the reasons set out in the preamble, Title 17, Chapter II of 
the Code of Federal Regulations is amended as follows:

[[Page 35349]]

PART 200--ORGANIZATION; CONDUCT AND ETHICS; AND INFORMATION AND 
REQUESTS

0
1. The authority citation for Part 200, Subpart A, continues to read in 
part as follows:

    Authority: 15 U.S.C. 77o, 77s, 77sss, 78d, 78d-1, 78d-2, 78w, 
78ll(d), 78mm, 80a-37, 80b-11, and 7202, unless otherwise noted.
* * * * *

0
2. Section 200.30-4, paragraph (a)(14) is revised to read as follows:

Sec.  200.30-4  Delegation of authority to Director of Division of 
Enforcement.

* * * * *
    (a) * * *
    (14) To submit witness immunity requests to the U.S. Attorney 
General pursuant to 18 U.S.C. 6002-6004, and, upon approval by the U.S. 
Attorney General, to seek or, for the period from June 17, 2011 through 
December 19, 2012, to issue orders compelling an individual to give 
testimony or provide other information pursuant to subpoenas that may 
be necessary to the public interest in connection with investigations 
and related enforcement actions pursuant to section 22(b) of the 
Securities Act of 1933 (15 U.S.C. 77v(b)), section 21(c) of the 
Securities Exchange Act of 1934 (15 U.S.C. 78u(c)), section 42(c) of 
the Investment Company Act of 1940 (15 U.S.C. 80a-41(c)) and section 
209(c) of the Investment Advisers Act of 1940 (15 U.S.C. 80b-9(c)).
* * * * *

    By the Commission.

    Dated: June 13, 2011.

Elizabeth M. Murphy,
Secretary.
[FR Doc. 2011-15030 Filed 6-16-11; 8:45 am]
BILLING CODE 8011-01-P