The recently passed Securities Act of 2008 strives to enhance
the effectiveness of the U.S. Securities and Exchange
Commission.
The U.S. House of Representatives passed the Securities Act of
2008 on September 11, 2008. The purpose of the Act is "to
enhance the effectiveness of the Securities and Exchange
Commission's enforcement, corporate finance, trading and
markets, investment management, and examination programs . .
." Some of the more significant components of the Act are
summarized below.
Civil Money Penalties
The Act would provide the U.S. Securities and Exchange
Commission (SEC) with the authority to impose civil money penalties
in cease-and-desist proceedings before an SEC administrative law
judge, against any person or company, whether registered or
unregistered, alleged to have violated the Act.
