17 CFR § 10.94
Setting aside of default
April 15, 2021
In order to prevent injustice and on such conditions as may be appropriate, (a) the Commission may at any time set aside a default order obtained under §10.93; and (b) the Administrative Law Judge may set aside a default order obtained under §10.93 at any time prior to filing of his initial decision in a proceeding in which there are remaining respondents. Any motion to set aside a default shall be made within a reasonable time, and shall state the reasons for the failure to file or appear and specify the nature of the proposed defense in the proceeding.