SEC Civil Enforcement Act

Summary

SEC Civil Enforcement Act - 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: (1) expand the range of persons, including financial institutions, subject to SEC civil monetary penalties (currently corporate officers, directors, auditors, lawyers, or publicly traded companies are exempt from such SEC sanctions); and (2) increase maximum civil monetary penalties for securities violations. Grants the SEC administrative authority, pursuant to an official SEC investigation, to subpoena financial records from a financial institution and transfer them to any government authority, in specified circumstances, without customer notice that a records request has been made.

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3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 16 January 2003

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 16 January 2003

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• Introduced in Senate

  summary · EN · 16 January 2003

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