Reuters: Republican-dominated SEC steps up oversight of investigations

On February 4th, according to Reuters, lawyers for the Securities Exchange Commission (SEC) have been told that they must obtain approval from the leadership before officially launching an investigation. This procedural change, which has not been reported before, may slow down the investigation process. The adjustment is said to have been made under the new leadership team under Trump.
The people familiar with the matter said they requested anonymity because the change has not been made public. Normally, the SEC is run by five commissioners, including the chairperson, and the commission is an independent body. Currently, the commission consists of three members, including two Republicans and one Democrat. The commissioners of the Securities Exchange Commission are appointed by the president of the United States. Recently, some law enforcement officials were told that all formal investigative orders - which are necessary to issue subpoenas for testimony or documents - require the approval of the commission. Previously, that authority had been delegated to lower-level staff, and the commission could exercise veto power, but not always, the people said.