SEC Proposes to Amend Rules Governing Its Administrative Proceedings

On September 24, the U.S. Securities and Exchange Commission (the “SEC”) proposed to amend rules governing its administrative proceedings.  Key changes to the SEC’s rules of practice include: adjustment of timing of the proceedings; permitting parties to take depositions of witnesses as part of discovery; and requiring parties to submit filings and serve each other electronically.  The SEC will seek public comment for a period that will remain open for 60 days following each proposal’s publication in the Federal Register.  Press Release.