SEC Overhauls Enforcement Manual to Heighten Transparency and Efficiency
The SEC’s Division of Enforcement updated its Enforcement Manual to boost fairness, transparency, and efficiency in investigations. Key changes include a four‑week Wells submission window and Wells meetings within four weeks with senior staff, plus the ability to consider settlement offers and related waivers simultaneously. The updates also refine cooperation considerations, the formal order process, referrals to criminal authorities, and internal collaboration, with yearly reviews to keep the manual current and aligned with best practices to protect investors and maintain fair markets.











