I’m happy you brought that up.
Much has been made of both the Initial decision and petition for review.
The petition has even been called “unauthorized” by some, which is a ridiculous claim considering the amount of time that has passed since it was filed.
Had the petition actually been “unauthorized”, it’s doubtful the SEC would’ve waited 35 days (and counting) before it would’ve given some sort of ruling. If it WAS unauthorized, they would’ve simply denied the petition and have been DONE with it.
It’s more likely that Ms. Williams and the Division of Enforcement were simply waiting to see if the SEC commissioners wanted to INDEPENDENTLY review Foelak’s Initial Decision (as is the right of the Board of Commissioners as to ALL Initial Decisions). Then on the 21st day after the ID, it was evident that the Board was not going to do that, so they filed the Petition for Review.
As to the petition and any subsequent “missing” filings by Miranda Fritz in opposition to it?
If you read SEC General Rules 410 and 411, it’s pretty evident that:
1. “Virtually ALL” petitions for review ARE GRANTED!
2. Filing for a opposition to review must FIRST have permission from the board to even BE filed. Why? Because unless there’s an overwhelmingly good reason to file one, opposition filings are almost always denied.
All this is RIGHT THERE in the general rules, should you care enough to read them!
I keep telling myself....deep breath....count to ten....try to answer without personal attack...if available, always try to present fact to back up your opinion.
AI
