S. 799
Referred to CommitteeSecurities Fraud Enforcement and Investor Compensation Act of 2019
Latest Action
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
3/14/2019 • Senate
Summary
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.
Introduced in Senate • 3/14/2019
Topics & Subjects
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Sponsor & Cosponsors (2)
Party Breakdown
Sponsor
Cosponsors (1)
Bill Journey
Originated in the Senate
Introduced
March 14, 2019
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Committee Review
Floor Debate
Passed Chamber
Other Chamber
President
Enacted into Law