(15)As regards effective enforcement, the SEC has broad authority to investigate actual or potential violations of U.S. federal securities laws, including the Exchange Act and the rules adopted thereunder. The SEC can obtain records from regulated entities pursuant to its supervisory powers. Moreover, under its subpoena authority, the SEC can compel the production of documents or testimony from any person or entity anywhere within the USA. The SEC has authority to take enforcement actions by commencing civil actions in federal district courts or instituting administrative proceedings before a SEC administrative law judge for violations of the U.S. federal securities laws, including insider trading and market manipulation. In civil actions, the SEC may seek disgorgement of ill-gotten gains, pre-judgment interest, civil money penalties, injunctions, as well as other ancillary relief, including an accounting from a defendant.