[Code of Federal Regulations]
[Title 17, Volume 2]
[Revised as of April 1, 2001]
From the U.S. Government Printing Office via GPO Access
[CITE: 17CFR200.14]

[Page 12-13]
 
              TITLE 17--COMMODITY AND SECURITIES EXCHANGES
 
             CHAPTER II--SECURITIES AND EXCHANGE COMMISSION
 
PART 200--ORGANIZATION; CONDUCT AND ETHICS; AND INFORMATION AND REQUESTS--Table of Contents
 
             Subpart A--Organization and Program Management
 
Sec. 200.14  Office of Administrative Law Judges.

    (a) Under the Administrative Procedure Act (5 U.S.C. 551-559) and 
the federal securities laws, the Office of Administrative Law Judges 
conducts hearings in proceedings instituted by the Commission. The 
Administrative Law Judges are responsible for the fair and orderly 
conduct of the proceedings and have the authority to:
    (1) Administer oaths and affirmations;
    (2) Issue subpoenas;
    (3) Rule on offers of proof;
    (4) Examine witnesses;
    (5) Regulate the course of a hearing;
    (6) Hold pre-hearing conferences;
    (7) Rule upon motions; and
    (8) Unless waived by the parties, prepare an initial decision 
containing the conclusions as to the factual and legal issues presented, 
and issue an appropriate order.
    (b) The Chief Administrative Law Judge performs the duties of an 
Administrative Law Judge under the Administrative Procedure Act and the 
duties

[[Page 13]]

delegated to him or her by the Commission that are compatible with those 
duties. The Chief Administrative Law Judge is responsible for the 
orderly functioning of the Office of Administrative Law Judges apart 
from the conduct of administrative proceedings and acts as liaison 
between that Office and the Commission.

[60 FR 14625, Mar. 20, 1995]