On October 8th, the Second Circuit, in a summary opinion, affirmed an order enforcing an SEC administrative subpoena issued as a result of public disclosures made by respondent's former employer based on allegedly privileged and misappropriated information. The SEC proved that the subpoena was valid on its face and respondent failed to show that the subpoena was unreasonable, issued in bad faith, or that compliance was unnecessarily burdensome. Whether the information sought would later be admissible, the Court noted, is irrelevant. The Court also affirmed the dismissal of a related action for an order prohibiting the SEC from using any information obtained from a privileged source. SEC v. Finazzo.