SEC: One commissioner may now be enough in certain matters
The SEC has changed its quorum rule, which sets the minimum number of members required to act. Since October 2, if all other sitting commissioners are recused or otherwise unable to participate in a matter, the sole available commissioner can constitute a quorum for that matter. The rule applies to SEC decisions generally, including those involving crypto; it does not mean one commissioner can decide any rule alone. The SEC says the change is intended to let it continue handling matters when recusals reduce the number of available members.
The SEC has changed its quorum rule, which sets the minimum number of members required to act. Since October 2, if all other sitting commissioners are recused or otherwise unable to participate in a matter, the sole available commissioner can constitute a quorum for that matter. The rule applies to SEC decisions generally, including those involving crypto; it does not mean one commissioner can decide any rule alone. The SEC says the change is intended to let it continue handling matters when recusals reduce the number of available members.