Summary: S.799 — 116th Congress (2019-2020)All Information (Except Text)

There is one summary for S.799. Bill summaries are authored by CRS.

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Introduced in Senate (03/14/2019)

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.