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ARTICLE · 17 MARCH 2026

SEC Revises Enforcement Manual For The First Time Since 2017

ArentFox Schiff
ArentFox Schiff
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On February 24, the US Securities and Exchange Commission’s (SEC) Division of Enforcement published a revised Enforcement Manual, replacing the version that had been in effect since November 2017.

United StatesCriminal Law
Alexander S. Birkhold
Alexander S. Birkhold
Brittany H. Sokoloff
Brittany H. Sokoloff
Peter Unger
Peter Unger
Patricia A. Pileggi
Patricia A. Pileggi
Elizabeth Satarov
Elizabeth Satarov
Sean A. Worley
Sean A. Worley

On February 24, the US Securities and Exchange Commission’s (SEC) Division of Enforcement published a revised Enforcement Manual, replacing the version that had been in effect since November 2017.

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The Enforcement Manual serves as the Division of Enforcement’s internal reference guide governing the policies, procedures, and practices that the Division’s staff follows in investigating potential violations of the federal securities laws and litigating the SEC’s enforcement actions. The updated Enforcement Manual reflects significant substantive changes to how the Division opens, prioritizes, and reviews proposed enforcement actions, as well as how it evaluates cooperation by companies and individuals.

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