WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission (SEC) has restored senior officers’ ability to kick off formal investigations in a bid to more swiftly detect and stop ongoing frauds and protect vulnerable investors, the agency said in a statement on Tuesday.
The move gives power to senior officers in the SEC’s enforcement division to authorize staff to subpoena documents and take sworn testimony, acting chair Allison Herren Lee said in the statement.
(Reporting by Chris Prentice; Editing by Chris Reese)
