# 17 C.F.R. § 201.121 (2026): Separation of functions

> Federal · Regulations · In force

URL: https://www.frixlaw.com/law-library/statutes/CFR_T17_P201_S201_121

## Section

- **Citation:** 17 C.F.R. § 201.121 (2026)
- **Heading:** Separation of functions
- **Jurisdiction:** Federal
- **Kind:** Regulations
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Title 17 CFR: Commodity and Securities Exchanges / Chapter II: SECURITIES AND EXCHANGE COMMISSION / Part 201: RULES OF PRACTICE / Subpart D: Rules of Practice / § 201.121: § 201.121   Separation of functions.

## Text

Any Commission officer, employee or agent engaged in the performance of investigative or prosecutorial functions for the Commission in a proceeding as defined in § 201.101(a) may not, in that proceeding or one that is factually related, participate or advise in the decision, or in Commission review of the decision pursuant to Section 557 of the Administrative Procedure Act, 5 U.S.C. 557, except as a witness or counsel in the proceeding.

## Nearby sections

- [17 C.F.R. § 201.100 (2026) § 201.100   Scope of the rules of practice.](https://www.frixlaw.com/law-library/statutes/CFR_T17_P201_S201_100.md)
- [17 C.F.R. § 201.101 (2026) § 201.101   Definitions.](https://www.frixlaw.com/law-library/statutes/CFR_T17_P201_S201_101.md)
- [17 C.F.R. § 201.102 (2026) § 201.102   Appearance and practice before the Commission.](https://www.frixlaw.com/law-library/statutes/CFR_T17_P201_S201_102.md)
- [17 C.F.R. § 201.103 (2026) § 201.103   Construction of rules.](https://www.frixlaw.com/law-library/statutes/CFR_T17_P201_S201_103.md)
- [17 C.F.R. § 201.104 (2026) § 201.104   Business hours.](https://www.frixlaw.com/law-library/statutes/CFR_T17_P201_S201_104.md)
- [17 C.F.R. § 201.110 (2026) § 201.110   Presiding officer.](https://www.frixlaw.com/law-library/statutes/CFR_T17_P201_S201_110.md)
- [17 C.F.R. § 201.111 (2026) § 201.111   Hearing officer: Authority.](https://www.frixlaw.com/law-library/statutes/CFR_T17_P201_S201_111.md)
- [17 C.F.R. § 201.112 (2026) § 201.112   Hearing officer: Disqualification and withdrawal.](https://www.frixlaw.com/law-library/statutes/CFR_T17_P201_S201_112.md)
- [17 C.F.R. § 201.120 (2026) § 201.120   Ex parte communications.](https://www.frixlaw.com/law-library/statutes/CFR_T17_P201_S201_120.md)
- [17 C.F.R. § 201.121 (2026) § 201.121   Separation of functions.](https://www.frixlaw.com/law-library/statutes/CFR_T17_P201_S201_121.md)
- [17 C.F.R. § 201.140 (2026) § 201.140   Commission orders and decisions: Signature and availability.](https://www.frixlaw.com/law-library/statutes/CFR_T17_P201_S201_140.md)
- [17 C.F.R. § 201.141 (2026) § 201.141   Orders and decisions: Service of orders instituting proceedings and other orders and decisions.](https://www.frixlaw.com/law-library/statutes/CFR_T17_P201_S201_141.md)
- [17 C.F.R. § 201.150 (2026) § 201.150   Service of papers by parties.](https://www.frixlaw.com/law-library/statutes/CFR_T17_P201_S201_150.md)
- [17 C.F.R. § 201.151 (2026) § 201.151   Filing of papers with the Commission: Procedure.](https://www.frixlaw.com/law-library/statutes/CFR_T17_P201_S201_151.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/CFR_T17_P201_S201_121. Check the current official text before relying on it. Not legal advice.