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What is liability pursuant to the “Securities Enforcement Remedies Act”?
The Securities Enforcement Remedies Act provides for additional civil liability for defendants found to have violated the securities laws. A judge may impose fines of up to $500,000 per institution and $100,000 per individual. This can also lead to a court prohibiting an individual from serving as an officer or director of a corporation.
• Discussion: Why do you think congress decided to augment the level of civil fine or penalty associated with securities law violations?