8.11.2009 The SEC amended its rules to delegate to the Director of the Division of Enforcement the authority to issue formal orders of investigation. These orders designate the enforcement staff authorized to issue subpoenas in connection with investigations under the federal securities laws. This action is intended to expedite the investigative process by removing the need for enforcement staff to seek SEC approval prior to performing routine functions. The SEC is adopting this delegation for a one-year period and at the end of the period will evaluate whether to extend the delegation.
Click http://www.sec.gov/rules/final/2009/34-60448.pdf to access the rule.