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S 1730 114th Congress Senate Finance and Financial Sector Administrative remedies Civil actions and liability Financial services and investments Fraud offenses and financial crimes Securities

Stronger Enforcement of Civil Penalties Act of 2015

Introduced: July 9, 2015 Introduced by: Reed, Jack Democratic · Rhode Island See on congress.gov
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 9, 2015
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S4956)
Jul 9, 2015
Introduced in Senate
 Plain-English summary Congressional Research Service

Stronger Enforcement of Civil Penalties Act of 2015

Amends the Securities Act of 1933, the Securities Exchange Act of 1934, the Investment Company Act of 1940, and the Investment Advisers Act of 1940 to increase the money penalties in administrative and civil actions involving securities laws violations.

Prescribes a fourth tier penalty of triple monetary penalties for noncompliance with certain enforcement actions if the violator, within the five-year period preceding the prohibited act, was criminally convicted for securities fraud or became subject to a judgment or order imposing monetary, equitable, or administrative relief in any Securities and Exchange Commission (SEC) action alleging fraud by such violator.

Applies the treatment as a separate offense each day that a violation of an SEC cease-and-desist order is committed through continuing noncompliance to violation of any action to enforce a federal court injunction or certain SEC orders that bar, suspend, place limitations on the activities or functions of, or prohibit the activities of, a person.

What's happening now July 9, 2015

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S4956)

 Committees of jurisdiction 1