Substation Relay Protection Training

Our customized live online or in‑person group training can be delivered to your staff at your location.

  • Live Online
  • 12 hours Instructor-led
  • Group Training Available
Regular Price:
$699
Coupon Price:
$599
Reserve Your Seat Today
SEC calls Lay fight over Enron subpoena

WASHINGTON -- The U.S. Securities and Exchange Commission recently said an attempt by ex-Enron Corp. Chairman Kenneth Lay to withhold records subpoenaed by the agency is a "charade" because he has already given them to a bankruptcy examiner. The former chairman of the bankrupt energy trader has been ordered to appear in federal court in Washington on Nov. 7, following SEC charges he had not fully complied with the commission's subpoena request.

Lawyers for Lay have said he has already produced more than 23,000 pages of documents for the SEC's investigation of the Houston-based company, which collapsed in 2001 amid an accounting scandal.

In September, the SEC said it was looking at whether Lay knew of, or was involved in, fraudulent activity at Enron. Lay has argued the 870 pages of documents he has withheld were personal rather than corporate in nature.

He said he wanted to invoke his Constitutional Fifth Amendment right against self-incrimination because the SEC would not guarantee the information would not be later used against him.

But in an amended court response filed recently, Lay disclosed he had made the documents available to Enron's bankruptcy examiner, prompting a sharp SEC response.

"Lay certainly cannot have any bonafide legal concerns attaching to his physical act of producing subpoenaed records given the fact that he has now produced them to third parties," including class action lawsuit plaintiffs and the bankruptcy examiner, the SEC said in its court documents, which it filed and released recently.

The SEC said in its response that Lay has entered into a "confidentiality agreement" with the bankruptcy examiner that protected the documents from disclosure.

"This court should not permit Lay to continue this charade," the SEC said, adding: "Lay has demonstrated a frankly whimsical approached to asserting his Fifth Amendment rights."

Related News

Substation Maintenance Training

Substation Maintenance Training delivers live online instruction on testing switchgear, circuit breakers, transformers, protective relays,…
View more

Nord Stream: Norway and Denmark tighten energy infrastructure security after gas pipeline 'attack'

Nord Stream Pipeline Sabotage triggers Baltic Sea gas leaks as Norway and Denmark tighten energy…
View more

Price Spikes in Ireland Fuel Concerns Over Dispatachable Power Shortages in Europe

ISEM Price Volatility reflects Ireland-Northern Ireland grid balancing pressures, driven by dispatchable power shortages, day-ahead…
View more

Brazil government considers emergency Coronavirus loans for power sector

Brazil Energy Emergency Loan Package aims to bolster utilities via BNDES as coronavirus curbs electricity…
View more

Lack of energy: Ottawa’s electricity consumption drops 10 per cent during pandemic

Ottawa Electricity Consumption Drop reflects COVID-19 impacts, with Hydro Ottawa and IESO reporting 10-12% lower…
View more

Bitcoin consumes 'More electricity than Argentina' - Cambridge

Bitcoin energy consumption is driven by mining electricity demand, with TWh-scale power use, carbon footprint…
View more

Sign Up for Electricity Forum’s Newsletter

Stay informed with our FREE Newsletter — get the latest news, breakthrough technologies, and expert insights, delivered straight to your inbox.

Electricity Today T&D Magazine Subscribe for FREE

Stay informed with the latest T&D policies and technologies.
  • Timely insights from industry experts
  • Practical solutions T&D engineers
  • Free access to every issue

Download the 2026 Electrical Training Catalog

Explore 50+ live, expert-led electrical training courses –

  • Interactive
  • Flexible
  • CEU-cerified