New Bill Could Take More SEC Fights Outside The Courtroom

Law360, New York (July 23, 2012, 8:38 PM EDT) -- A bipartisan bill introduced in the U.S. Senate on Monday would allow the U.S. Securities and Exchange Commission to impose bigger fines through its administrative process, potentially encouraging the agency to sidestep the courts whenever possible, experts say.

Sens. Jack Reed, D-R.I., and Chuck Grassley, R-Iowa, drafted the legislation to give the SEC more latitude to crack down on financial fraud. Their bill would empower the agency to take up to $1 million per violation from individuals and up to $10 million per violation from companies,...
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