S.779 - Stronger Enforcement of Civil Penalties Act of 2017115th Congress (2017-2018) |
|Sponsor:||Sen. Reed, Jack [D-RI] (Introduced 03/30/2017)|
|Committees:||Senate - Banking, Housing, and Urban Affairs|
|Latest Action:||Senate - 03/30/2017 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (All Actions)|
This bill has the status Introduced
Here are the steps for Status of Legislation:
- Passed Senate
- Passed House
- To President
- Became Law
Summary: S.779 — 115th Congress (2017-2018)All Information (Except Text)
Introduced in Senate (03/30/2017)
Stronger Enforcement of Civil Penalties Act of 2017
This bill 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 civil and administrative monetary penalties for securities laws violations.
The bill also adds a fourth tier of monetary penalties for violations by a person that, within the five-year period preceding the violation: (1) was criminally convicted for securities fraud; or (2) became subject to a judgment or order imposing monetary, equitable, or administrative relief in a Securities and Exchange Commission (SEC) action alleging fraud.
In addition, the bill expands penalties for violations of certain federal court injunctions or SEC orders.