Bioelectronics Corp (BIEL)

[seven-up]

Mary-Jo-White-Steps-Down-as-S.E.C.-Chief-LMAO-leave only two commissioner SEC rules require a three-person quorum for the agency to pass a regulation, bring a civil lawsuit, or take virtually any other action not delegated to staff. And the five-member commission is now down to just three members, after two left late last year. So the quorum rule effectively hands any individual commissioner veto power over SEC action he or she doesn’t support. By simply refusing to show up to a vote, a dissenting commissioner can block the agency from acting altogether.