Massive increase in penalties for securities fraud and financial market violations.
This act drastically increases the financial penalties imposed on individuals and companies violating securities laws, particularly in cases involving fraud and manipulation. This aims to create a stronger deterrent against financial misconduct, thereby better protecting citizens' savings and investments. Repeat offenders will face penalties three times higher than standard fines, and continuous non-compliance with court orders will result in daily separate offenses.
Key points
Maximum civil penalties for severe financial fraud (Third Tier) increase significantly, up to $1 million for individuals and $10 million for corporations, or three times the gain/victim loss.
A new Fourth Tier penalty is established: repeat offenders convicted of securities fraud within five years will face fines three times the standard applicable amount.
Enforcement of court injunctions and regulatory bars is strengthened, treating each day of continuous non-compliance as a separate violation.
Status:
Expired
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