§78d–5 Deadline for completing enforcement investigations and compliance examinations and inspections

Summary

After Commission staff give someone a written Wells notice, they must decide within 180 days whether to file a case against that person or tell the enforcement director they do not plan to file. If the enforcement director (or their designee) says the investigation is especially complex, they can, after telling the Commission chair, add one more 180-day extension. If it still needs more time after that extra 180 days, the director (or designee) can ask the full Commission for approval to extend the deadline in additional 180-day blocks. After the on-site part of a compliance exam or after staff get all requested records (whichever is later), staff must tell the examined entity in writing within 180 days whether the exam is finished, finished with no findings, or that the entity must fix problems. If the head of the office in charge of exams says the inspection is complex, they can, after telling the Commission chair, extend that 180-day deadline by one more 180 days.