Securities Fraud Enforcement and Investor Compensation Act of 2019
- Last Action
- 3/14/2019
CRS Summary
As of 2019-03-14 (00)
Securities Fraud Enforcement and Investor Compensation Act of 2019
This bill provides statutory authority for the Securities and Exchange Commission (SEC) to seek disgorgement (i.e., repayment) as a remedy for unjust enrichment that a person gained through a securities law violation. It also allows the SEC to seek restitution for an investor's loss as a result of a securities law violation by a person registered as or associated with a securities dealer, broker, or other specified financial advisor.
The bill establishes a 5-year statute of limitations for disgorgement and a 10-year statute of limitations for equitable remedies, including restitution.
Cosponsors (1)
- John Kennedy (R-LA)
Sourced from Congress.gov (public domain).
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