Bill Would Give the SEC Authority to Increase Its Fines

August 1, 2012

Senator Jack Reed, the Chairman of the Senate Banking Subcommittee on Securities, Insurance and Investment, has introduced a bill that, if enacted, would allow the SEC to levy fines of up to $1 million (up from $150,000) per securities violation on individuals and up to $10 million (up from $725,000) per violation on financial firms.  The Subcommittee is part of the Senate‚Äôs Banking, Housing & Urban Affairs Committee.


Categories

Investment Advisers, Investment Companies, Regulatory