S 799
116th Congress
Senate
Finance and Financial Sector
Civil actions and liability
Criminal investigation, prosecution, interrogation
Financial services and investments
Fraud offenses and financial crimes
Securities
Securities Fraud Enforcement and Investor Compensation Act of 2019
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 14, 2019
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Mar 14, 2019
Introduced in Senate
Plain-English summary
Securities Fraud Enforcement and Investor Compensation Act of 2019
This bill provides statutory authority for the Securities and Exchange Commission (SEC) to seek disgorgement (i.e., repayment) as a remedy for unjust enrichment that a person gained through a securities law violation. It also allows the SEC to seek restitution for an investor's loss as a result of a securities law violation by a person registered as or associated with a securities dealer, broker, or other specified financial advisor.
The bill establishes a 5-year statute of limitations for disgorgement and a 10-year statute of limitations for equitable remedies, including restitution.
What's happening now
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Committees of jurisdiction
1
Cosponsors
1