United States · Bill · HR
H.R. 975 (101st)
Securities Law Enforcement Remedies Act of 1990
Introduced
9 February 1989
Last action
23 July 1990 · Reported
Status
For Further Action See H.R.5325.
Sponsors
Rep. Dingell, John D. [D-MI-12]
Subjects
Discovery layer
Source updated
5 February 2024
Summary
Securities Law Enforcement Remedies Act of 1989 - Title I: Amendments to the Securities Act of 1933 - Amends the Securities Act of 1933 to authorize a court to prohibit any person from serving as an officer or director of an issuer of registered securities if such person is found to have violated provisions of such Act or any rules or regulations promulgated pursuant to such Act. Authorizes the Securities and Exchange Commission (SEC) to bring a civil action to impose monetary penalties for such violation not exceeding the greater of: (1) $100,000 for a natural person or $500,000 for any other person; or (2) the gross amount of pecuniary gain to such person as a result of the violation. Title II: Amendments to the Securities Exchange Act of 1934 - Amends the Securities Exchange Act of 1934 to authorize the SEC to prohibit persons from serving as officers or directors of any issuer of registered securities if such a person is found to have failed to comply with or to have caused a failure to comply with certain reporting requirements of such Act. Authorizes a court, upon a proper showing by the SEC, to prohibit persons from serving as officers or directors of any issuer of registered securities. Authorizes the SEC to impose monetary penalties in administrative proceedings against such persons. Limits the amount of such a penalty to $100,000 for a natural person or $500,000 for any other person. Title III: Amendments to the Investment Company Act of 1940 - Amends the Investment Company Act of 1940 to authorize the SEC to impose such monetary penalties in administrative proceedings instituted against investment advisers and certain other persons for violations of such Act and the Securities Act of 1933, the Securities Exchange Act of 1934, and the Investment Advisers Act of 1940. Authorizes a court to prohibit persons from serving as officers or directors of an issuer of registered securities if such a person is found to have violated provisions of the Investment Company Act of 1940 or any rules or regulations promulgated pursuant to such Act. Authorizes the SEC to bring a civil action to impose upon any such person a penalty not exceeding the greater of: (1) $100,000 for a natural person or $500,000 for any other person; or (2) the gross amount of pecuniary gain to such a person as a result of the violation. Title IV: Amendments to the Investment Advisers Act of 1940 - Amends the Investment Advisers Act of 1940 to authorize the SEC to impose such monetary penalties in administrative proceedings instituted against investment advisors for violations of such Act and the Securities Act of 1933, the Securities Exchange Act of 1934, and the Investment Company Act of 1940. Authorizes a court to prohibit persons from serving as officers or directors of an issuer of registered securities if such a person is found to have violated provisions of the Investment Advisers Act of 1940 or any rules or regulations promulgated pursuant to such Act.
This text is taken from the official record. PoliticalRepo does not editorialize.
Timeline
9 February 1989
Introduced
Introduced in House
Source: IntroReferral
9 February 1989
Introduced
Referred to the House Committee on Energy and Commerce.
Source: IntroReferral
9 February 1989
Introduced
Introduced in House
Source: IntroReferral
27 February 1989
Referred
Referred to the Subcommittee on Telecommunications and Finance.
Source: Committee
19 July 1989
Committee
Subcommittee Hearings Held.
Source: Committee
20 June 1990
Committee
Subcommittee Consideration and Mark-up Session Held.
Source: Committee
20 June 1990
Committee
Forwarded by Subcommittee to Full Committee (Amended).
Source: Committee
27 June 1990
Reported
Ordered to be Reported (Amended).
Source: Committee
27 June 1990
Committee
Committee Consideration and Mark-up Session Held.
Source: Committee
23 July 1990
Committee
For Further Action See H.R.5325.
Source: Committee
23 July 1990
Calendars
Placed on the Union Calendar, Calendar No. 384.
Source: Calendars
23 July 1990
Reported
Reported (Amended) by the Committee on Energy and Commerce. H. Rept. 101-616.
Source: Committee
23 July 1990
Reported
Reported (Amended) by the Committee on Energy and Commerce. H. Rept. 101-616.
Source: Committee
Votes
No vote records are attached yet.
Versions
- Introduced in House · — · Download file
- Reported in House · — · Download file
Documents
4 official files
Reported in House (text)
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Reported in House (text)
Reported in House · EN
Introduced in House (text)
Introduced in House · EN
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Reported to House with amendment(s)
summary · EN · 23 July 1990
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Introduced in House
summary · EN · 9 February 1989
Leesvertaling
Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.
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Sponsors
- Rep. Dingell, John D. [D-MI-12] · D · Sponsor
- · hsif00 · Standing
Related records
Sources
PoliticalRepo is an index and interpretation layer, not the authoritative legal source.
- Official source: https://www.congress.gov/bill/101st-congress/house-bill/975
- Open data entity: https://api.congress.gov/v3/bill/101/hr/975
- us · 101-hr-975 · source updated 5 February 2024