# Delegation of Authority to Director of the Division of Enforcement
> **US Securities and Exchange Commission** · Final rule. · Published 2025-03-14 · Effective 2025-03-14 · 90 FR 12105
## Document
- **Document number:** 2025-04064
- **Category:** final-rule
- **Agency:** US Securities and Exchange Commission
- **Federal Register citation:** 90 FR 12105
- **CFR reference:** 17 CFR 200
- **Publication date:** 2025-03-14
- **Effective date:** 2025-03-14
- **Docket:** Release No. 33-11366
## Abstract

The Securities and Exchange Commission ("Commission") is amending its regulations with respect to the delegations of authority to the Director of the Division of Enforcement ("Director") to eliminate the delegation of authority to issue formal orders of investigation. Formal orders designate the enforcement staff authorized to issue subpoenas in connection with investigations under the Federal securities laws. This amendment is the result of the Commission's experience with its nonpublic investigations. The amendment is intended to increase effectiveness by more closely aligning the Commission's use of its investigative resources with Commission priorities.

## Source
- [Federal Register document](https://www.federalregister.gov/documents/2025/03/14/2025-04064/delegation-of-authority-to-director-of-the-division-of-enforcement)
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