SEC rules were amended, authorizing the Director of the Division of Enforcement to compel individuals to give testimony or provide other information.   The amendment to Rule 30-4(a)(14) provides this delegation of authority pursuant to 18 U.S.C. §§ 6002 - 6004. 

This authority will be in effect for 18 months - beginning today, Friday 6/17/11.  At the end of that period, the SEC will evaluate whether to extend the delegation to issue immunity orders.

This delegation follows on the Commission’s prior delegation, effective 1/19/10, 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.

The SEC anticipates this change will 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 the above, the Director may, in any case in he or she believes appropriate, submit the matter to the Commission.   [SEC Final Rules Rel 34-64649, 6/13/11]