Other Fields
Agency Scheme: 
SECOFFDI0003
ADJUDICATION STRUCTURE
Hearing Level: Basic Structure
Name of Hearing Office (local name): 
Commission
Name of Hearing Office (global name): 
Securities and Exchange Commission: Commission
Hearing Officer #1 (Title): 
Commissioner
Hearing Officer #2 (Title): 
Administrative Law Judge
Are administrative appeals permitted from final decisions at the hearing-level stage?: 
No
Comments/Notes on Adjudication Structure: 

This scheme involves the creation/adjudication of Fair Fund and Disgorgement Plans.

PROCESS & PROCEDURE - General Information
Are private parties permitted to have representation at hearings?: 
Yes (All Types of Cases)
Who may serve as a private party representative?: 
Attorney
Is the agency permitted to have representation at hearings?: 
Yes (All Types of Cases)
Who may serve as an agency representative?: 
Attorney
Regulations/rules of practice for hearings (please include CFR citations): 
17 C.F.R. ยงยง 1100-1106
Other published guidance for hearings (if any): 
http://www.sec.gov/about/rulesprac2006.pdf
PROCESS & PROCEDURE - Pre-Hearing Procedure
Is discovery permitted by either party at the hearing-level stage?: 
No
Does the hearing officer have subpoena authority?: 
No
Are parties provided notice of hearing?: 
Yes (All Types of Cases)
PROCESS & PROCEDURE - Hearing Procedure
What types of hearings are permitted at the hearing-level stage?: 
Written (Document-Only) Hearing
How many hearing officers preside at each hearing?: 
Four or More
Is witness testimony permitted at hearings?: 
N/A (Document-Only Hearings)
Can parties cross-examine witnesses?: 
N/A (Document-Only Hearings)
Can third-parties submit amicus briefs and/or evidence?: 
Yes
Are hearings recorded and/or transcribed?: 
N/A (Document-Only Hearings)
Are hearings open to the public?: 
N/A (Document-Only Hearing)
PROCESS & PROCEDURE - Post-Hearing Procedure
Who typically drafts the decision at the hearing-level stage?: 
Adjudication Officer
Who has authority to issue final decisions?: 
Adjudication Officer
Do agency regulations or guidance provide time limits for issuance of final decisions?: 
Yes (All Types of Cases)
If "Yes," please specify these time limit(s): 
The order approving or disapproving the plan should be entered within 30 days after the end of the final period allowed for comments on the proposed plan unless the Commission or the hearing officer, by written order, allows a longer period for good cause shown.
PROCESS & PROCEDURE - Case Management
Does the agency permit web-based electronic filing of hearing-related briefs or other documents?: 
Yes
Are final decisions published and/or posted on the agency website?: 
Yes (All Decisions)
Do agency regulations/rules of practice specify the contents of the administrative record at the hearing-level stage?: 
No
Do agency regulations/rules of practice provide for closure of the record at the hearing-level stage (subject to applicable exce: 
No
ADR: General Information
Is ADR available at one or more points during the hearing process?: 
No
Verified by Agency: 
Not verified