US Congress Senate Bill 286 (Prior Session Legislation)

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Spectrum: Slight Partisan Bill (Democrat 2-1)
Status: Introduced on February 12 2013 - 25% progression, died in committee
Action: 2013-02-12 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Pending: Senate Banking, Housing, And Urban Affairs Committee
Text: Latest bill text (Introduced) [PDF]

Stronger Enforcement of Civil Penalties Act of 2013 - 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.

Stronger Enforcement of Civil Penalties Act of 2013

Sen. Jack Reed [D-RI]

Sen. Chuck Grassley [R-IA]

Sen. Patrick Leahy [D-VT]

Date	Chamber	Action
2013-02-12	Senate	Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
2013-02-12	Senate	Sponsor introductory remarks on measure. (CR S660)

Type	Source
Summary	https://www.congress.gov/bill/113th-congress/senate-bill/286/all-info
Text	https://www.congress.gov/113/bills/s286/BILLS-113s286is.pdf