SEC Adopts Amendments to Rules of Practice for Administrative Proceedings
On July 13, 2016, the Securities and Exchange Commission ("SEC") adopted important amendments
updating its rules of practice governing its administrative proceedings.These changes concern, among other things, the timing of hearings in administrative proceedings, depositions, summary disposition, the contents of an answer, admissibility of evidence and expert disclosures and the procedure for appeals.
The amendments are intended to update the rules and introduce additional flexibility into administrative proceedings, while continuing to provide for the timely and efficient resolution of the proceedings. The amendments will become effective sixty days after publication in the Federal Register and will apply to all proceedings initiated on or after that date.