S. 3416 (112th): Stronger Enforcement of Civil Penalties Act of 2012

Introduced:
Jul 23, 2012 (112th Congress, 2011–2013)
Sponsor:
Sen. John “Jack” Reed [D-RI]
Status:
Died (Referred to Committee)
See Instead:
This bill was re-introduced as S. 286 on Feb 12, 2013. See S. 286 for current action on this subject.

The bill’s title was written by the bill’s sponsor. S. stands for Senate bill.

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Status

This bill was introduced on July 23, 2012, in a previous session of Congress, but was not enacted.

Progress
Introduced Jul 23, 2012
Referred to Committee Jul 23, 2012
Cosponsors
1 cosponsors (1R) (show)
Committees

Senate Banking, Housing, and Urban Affairs

The committee chair determines whether a bill will move past the committee stage.

Full Title

A bill to enhance civil penalties under the Federal securities laws, and for other purposes.

Summary

No summaries available.

Text

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Last updated Jul 23, 2012.
23 pages

Primary Source

View on THOMAS (The Library of Congress)

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Citation

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

7/23/2012--Introduced.
Stronger Enforcement of Civil Penalties Act of 2012 - 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.

House Republican Conference Summary

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No summary available.

House Democratic Caucus Summary

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The bill contains the following citations to other parts of U.S. law:

United States Code

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