 A post-They shouldn't have to suffer undue risk or incur losses while securities-law violators get away with a slap on the wrist.”Sen. Jack Reed, senior member of the Senate Banking Committee . |
Senators seek tenfold increase in SEC penalties for fraudsters
Mark Schoeff Jr. | InvestmentNews, July 2015
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Summary: Penalties for breaking securities laws would increase almost tenfold under bipartisan legislation introduced in the Senate on Thursday. The bill would allow the Securities and Exchange Commission to levy fines of up to $1 million per offense by individuals and $10 million for each violation by firms for the most serious offenses, which would include fraud, deceit, manipulation and deliberate disregard for regulations.
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