SEC’s Division of Enforcement Announces Updates to Enforcement Manual

The Securities and Exchange Commission’s Division of Enforcement today announced significant updates to its Enforcement Manual. These updates underscore the Commission’s ongoing commitment to fairness, transparency, and efficiency in the investigations conducted by the Division. They include changes to investigative procedures that are intended to enhance consistency and uniformity in the Division’s practices and to create greater efficiencies in support of the Commission’s mission to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation. The Enforcement Manual, which was last revised in 2017, will undergo yearly reviews going forward. “This is an important and long-overdue step that builds on the Division of Enforcement’s commitment to transparency, fairness, and process while ensuring it remains able to fulfill its mission,” said SEC Chairman Paul S.