Replies to post #46797 on Anavex Life Sciences Corp (AVXL)

[XenaLives]

Yes, good info. Another quote:

While the SEC will not disclose the target of an investigation to a witness, or even his attorney, a knowledgeable lawyer can obtain SEC information that will lead to a reasonable idea of the witness' role in the investigation and the scope of inquiry. .....

However, the process itself is not complicated, but is important to understand. Where testimony is being compelled, the witness receives a subpoena (from the SEC) or a letter from FINRA. The testimony is given under oath and recorded by a court reporter or tape recording equipment, is usually taken by an SEC attorney at one of their regional offices. An investigator is also present, and other SEC staff may attend. The same is true for the FINRA and the NYSE.

In the SEC situation, In order for the staff attorney to subpoena a witness, there must be a Formal Order of Investigation. Witnesses who are subpoenaed to appear and give testimony are entitled to see the formal order, and it should be reviewed carefully. It contains information as to the scope of the investigation, when it began and who is authorized to conduct it. Additionally, the formal order may contain information regarding staff conclusions and possible subjects of the investigation.

http://www.seclaw.com/docs/secsubpoenaresponse.php