Securities Act Of 2008 Will Expand SEC’s Authority

Law360, New York (October 2, 2008, 12:00 AM EDT) -- On Sep. 11, 2008, the U.S. House of Representatives passed the most significant piece of legislation involving the federal securities laws since the Sarbanes-Oxley Act of 2002.

The bill, known as the Securities Act of 2008, proposes to amend the federal securities laws and expand the SEC’s power in enforcement actions.

The current legislation, sponsored by Rep. Paul Kanjorski, D-Pa., is next headed for a vote in the U.S. Senate.

The Act would amend various provisions of the Securities Act of 1933, the Securities Exchange Act...
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