17 C.F.R. § 201.155

Default; motion to set aside default

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(a) A party to a proceeding may be deemed to be in default and the Commission or the hearing officer may determine the proceeding against that party upon consideration of the record, including the order instituting proceedings, the allegations of which may be deemed to be true, if that party fails:

(1) To appear, in person or through a representative, at a hearing or conference of which that party has been notified;

(2) To answer, to respond to a dispositive motion within the time provided, or otherwise to defend the proceeding; or

(3) To cure a deficient filing within the time specified by the commission or the hearing officer pursuant to § 201.180(b).

(b) A motion to set aside a default shall be made within a reasonable time, state the reasons for the failure to appear or defend, and specify the nature of the proposed defense in the proceeding. In order to prevent injustice and on such conditions as may be appropriate, the hearing officer, at any time prior to the filing of the initial decision, or the Commission, at any time, may for good cause shown set aside a default.

Notes of Decisions

Cited in 2 cases, 2012–2016 · leading case: Bandimere v. United States Sec. & Exch. Comm'n, 844 F.3d 1168 (10th Cir. 2016).

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Bandimere v. United States Sec. & Exch. Comm'n, 844 F.3d 1168 (10th Cir. 2016). · cites it 3× “326 rebuttal evidence, if any, and cross-examination, if any” Enter default judgment 17 C.F.R. § 201.155 Examine witnesses 17 C.”

Rapoport v. Sec. & Exch. Comm'n, 682 F.3d 98 (D.C. Cir. 2012). · cites it 6× “Rapoport argues that the Commission arbitrarily applied Exchange Act Rule 155(b), 17 C.F.R. § 201.155 (b), which gives the Commission discretion to set aside default orders “for good cause shown.”

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