House Approves Bill to Broaden SEC Powers:...
From Times Staff and Wire Reports
House Approves Bill to Broaden SEC Powers: The House passed legislation that would give the Securities and Exchange Commission the power to impose fines for illegal activities beyond insider trading and to crack down on penny stock fraud. The Securities Enforcement and Penny Stock Reform Act of 1990 also would give the SEC authority to order alleged wrongdoers to “cease and desist” illegal activities without the agency first having to go to court to obtain a restraining order.
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