The Office of Market Intelligence (“OMI”) evaluates incoming tips, complaints, or referrals (known as “TCRs”). At least two SEC attorneys evaluate each TCR submitted. Specific, credible, and timely TCRs are assigned to members of the SEC staff for further investigation or analysis. If the OMI determines that a TCR warrants deeper investigation, the staff will assign it to one of the SEC’s eleven regional offices, to a specialty unit, or to an Enforcement group in the Home Office.
If the SEC determines that it needs additional information to evaluate your TCR or to assist it in a resulting investigation, the SEC will contact you or your attorney. You should not expect, however, to receive updates from the SEC regarding your submission.
As a matter of policy, the SEC conducts its investigations on a confidential basis. The purpose of this is to:
- protect the integrity of any investigation from premature disclosure; and
- protect the privacy of the persons involved in an investigation.
Accordingly, there may be very limited information that the SEC can share with you or your attorney regarding what action, if any, the SEC has taken in response to your TCR.
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