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| | 04-08-2003 - Strengthening SEC Civil Enforcement Authority : Senator Carl Levin: News Release (Site not responding. Last check: 2007-10-11) |
 | | Our legislation would expand the SEC's authority to allow the agency to impose administrative fines on anyone who violates federal securities law including, for example, corporate officers, directors, auditors, lawyers, or publicly traded companies, none of whom are now subject to being fined by the SEC in administrative proceedings. |
 | | The civil administrative fines that the SEC is currently authorized to impose have statutory maximums that, depending upon the nature of the securities law violation, range from a maximum of $6,500 to a maximum of $600,000 per violation. |
 | | Our provision would increase the civil fine maximums from a range of a maximum of $6,500 to a maximum of $600,000 per violation, depending on the nature of the securities law violation, to a range that goes from a maximum of $100,000 to a maximum of $2 million per violation. |
| www.senate.gov /member/mi/levin/general/newsroom/release.cfm?id=210849 (1173 words) |
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