The Securities Fraud Deterrence and Investor Restitution Act was H.R. 2179 and is a bill currently on the Union Calendar.
Its official titles as introduced, is To enhance the authority of the Securities and Exchange Commission to investigate, punish, and deter securities laws violations, and to improve its ability to return funds to defrauded investors, and for other purposes but was also known as the Securities Fraud Deterrence and Investor Restitution Act of 2003. The bill is sponsored by representative Richard H. Baker and cosponsored by Rep. Sue W. Kelly, Rep. Doug Ose, Rep. Michael G. Oxley, Rep. David Scott, and Rep. Patrick J. Tiberi.
A committee was assigned to H.R. 2179; the House Financial Services committee whose activity is referral, markup, reporting; and in the House Financial Services Subcommittee on Capital Markets, Insurance and Government-Sponsored Enterprises whose activity is referral, hearings, markup, reporting
H.R. 2179 has been discharged by the House Judiciary committee.
Read more about Securities Fraud Deterrence And Investor Restitution Act: Major Actions, General, Resource(s)
Famous quotes containing the words fraud, restitution and/or act:
“He saw, he wish’d, and to the prize aspir’d.
Resolv’d to win, he meditates the way,
By force to ravish, or by fraud betray;
For when success a lover’s toil attends,
Few ask, if fraud or force attain’d his ends.”
—Alexander Pope (1688–1744)
“When someone borrows an animal from another and it is injured or dies, the owner not being present, full restitution shall be made. If the owner was present, there shall be no restitution; if it was hired, only the hiring fee is due.”
—Bible: Hebrew, Exodus 22:14,15.
“Without being forgiven, released from the consequences of what we have done, our capacity to act would ... be confined to one single deed from which we could never recover; we would remain the victims of its consequences forever, not unlike the sorcerer’s apprentice who lacked the magic formula to break the spell.”
—Hannah Arendt (1906–1975)