Investigations by the SEC

The SEC generally conducts investigations confidentially for two main reasons. First, we can conduct investigations more effectively if they are not announced publicly. For instance, important documents and evidence can be destroyed quickly if people hear of an investigation. Second, investigations are kept confidential to protect the reputations of companies and individuals if we find no wrongdoing or decide we cannot bring a successful action against them.  As a result, the SEC will not typically confirm or deny the existence of an investigation unless, and until, it becomes a matter of public record.

An investigation becomes public when the SEC files an action in court or in its internal administrative process. You can find information about public enforcement actions on our Web site.