Electrical Commissioning Training - Testing, Acceptance Testing, Start-Up and Turnover

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:
$599
Coupon Price:
$499
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

Analysis: Out in the cold: how Japan's electricity grid came close to blackouts

Japan Electricity Crunch exposes vulnerabilities in a liberalised power market as LNG shortages, JEPX price…
View more

Elon Musk could help rebuild Puerto Rico with solar-powered electricity grid

Puerto Rico Tesla Solar Power enables resilient microgrids using batteries, renewable energy, and energy storage…
View more

Sudbury, Ont., eco groups say sustainability is key to grid's future

Sudbury Electrification and Grid Expansion is driving record power demand, EV charging, renewable energy planning,…
View more

Electricity deal clinches $100M bitcoin mining operation in Medicine Hat

Medicine Hat Bitcoin Mining Deal delivers 42 MW electricity to Hut 8, enabling blockchain data…
View more

Modular nuclear reactors a 'long shot' worth studying, says Yukon gov't

Yukon SMR Feasibility Study examines small modular reactors as low-emissions nuclear power for Yukon's grid…
View more

Analysis: Why is Ontario’s electricity about to get dirtier?

Ontario electricity emissions forecast highlights rising grid CO2 as nuclear refurbishments and the Pickering closure…
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