Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

Monday, June 7, 2010

Financial Crisis Inquiry Commission Subpoenas Documents from Goldman

The Financial Crisis Inquiry Commission announced that it issued a subpoena to Goldman Sachs & Co. for
failing to comply with a request for documents and interviews in a timely manner.  According to its statement:

In seeking documents and testimony from public agencies and companies, the Commission has
made it clear that it is committed to using its subpoena power if there is a lack of, or delay in,
compliance. Failure to comply with a Commission request is viewed with the utmost seriousness,
as the Commission will not be deterred from getting desired information.
In creating the Financial Crisis Inquiry Commission under the Fraud Enforcement and Recovery
Act of 2009, Congress granted the Commission the power to “require, by subpoena or otherwise,
the attendance and testimony of witnesses and the production of books, records, correspondence,
memoranda, papers, and documents.”

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