Insider Trading Sanctions Act of 1984

Summary

Insider Trading Sanctions Act of 1983 - Amends the Securities Exchange Act of 1934 to permit the Securities and Exchange Commission, whenever it appears that any person has traded in securities while in possession of material nonpublic information, to seek an order in a district court action requiring the violator, or anyone who aided and abetted the violation, to pay a civil penalty of up to three times the profit gained or loss avoided as a result of the unlawful transaction. Permits the Commission if such person fails to pay such penalty, to refer the matter to the Attorney General who may recover such penalty by action in the appropriate U.S. district court. Increases from $10,000 to $100,000 the maximum criminal fine that may be imposed on persons, other than exchanges, who willfully violate the Securities Exchange Act of 1934.

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Timeline

1. 23 March 1983

   Introduced

   Read twice and referred to the Committee on Banking.

   Source: IntroReferral

2. 23 March 1983

   Introduced

   Introduced in Senate

   Source: IntroReferral

3. 12 April 1983

   Committee

   Committee on Banking requested executive comment from Securities and Exchange Commission, Justice Department.

   Source: Committee

4. 3 April 1984

   Committee

   Subcommittee on Securities. Hearings held.

   Source: Committee

5. 25 June 1984

   Committee

   Committee on Banking. Approved for reporting with amendments favorably.

   Source: Committee

6. 26 June 1984

   Calendars

   Placed on Senate Legislative Calendar under General Orders. Calendar No. 1021.

   Source: Calendars

7. 26 June 1984

   Reported

   Committee on Banking. Reported to Senate by Senator D'Amato with amendments. Without written report.

   Source: Committee

8. 26 June 1984

   Reported

   Committee on Banking. Reported to Senate by Senator D'Amato with amendments. Without written report.

   Source: Committee

9. 29 June 1984

   Floor

   Measure laid before Senate.

   Source: Floor

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

3 official files

• Indefinitely postponed in Senate

  summary · EN · 29 June 1984

  Open at official source

• Reported to Senate with amendment(s)

  summary · EN · 26 June 1984

  Open at official source

• Introduced in Senate

  summary · EN · 23 March 1983

  Open at official source

Sponsors

• Sen. D'Amato, Alfonse [R-NY] · R · Sponsor
• Sen. Sarbanes, Paul S. [D-MD] · D · Sponsor
• Sen. Garn, E. J. (Jake) [R-UT] · R · Sponsor
• Sen. Proxmire, William [D-WI] · D · Sponsor
• Sen. Hawkins, Paula [R-FL] · R · Sponsor
• Sen. Riegle, Donald W., Jr. [D-MI] · D · Sponsor
• Sen. Mattingly, Mack [R-GA] · R · Sponsor
• · ssbk00 · Standing

Related records

• related to → Insider Trading Sanctions Act of 1984