WASHINGTON (Reuters) – A top U.S. Securities and Exchange Commission official on Wednesday said the SEC will turn to courts to enforce its subpoena authority when someone is “playing games” or trying to delay investigations.
THE TAKE
The SEC’s enforcement director Gurbir Grewal said the agency rarely turns to a court to enforce its subpoena authority, but will do so when necessary. Grewal estimated the agency pursued about a dozen such actions last year.
Earlier this month, the regulator sued Elon Musk to compel him to testify as part of a probe into his $44 billion takeover of social media giant Twitter.
KEY QUOTE:
“We need to have accountability and we need to get that message out to the public,” Grewal said at an industry conference.
(Reporting by Chris Prentice; editing by Jonathan Oatis)
