§ 13a–1. Enjoining or restraining violations

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Whenever it shall appear to the Commission that any registered entity or other person has engaged, is engaging, or is about to engage in any act or practice constituting a violation of any provision of this chapter or any rule, regulation, or order thereunder, or is restraining trading in any commodity for future delivery or any swap, the Commission may bring an action in the proper district court of the United States or the proper United States court of any territory or other place subject to the jurisdiction of the United States, to enjoin such act or practice, or to enforce compliance with this chapter, or any rule, regulation or order thereunder, and said courts shall have jurisdiction to entertain such actions:

Provided , That no restraining order (other than a restraining order which prohibits any person from destroying, altering or disposing of, or refusing to permit authorized representatives of the Commission to inspect, when and as requested, any books and records or other documents or which prohibits any person from withdrawing, transferring, removing, dissipating, or disposing of any funds, assets, or other property, and other than an order appointing a temporary receiver to administer such restraining order and to perform such other duties as the court may consider appropriate) or injunction for violation of the provisions of this chapter shall be issued ex parte by said court.

Upon a proper showing, a permanent or temporary injunction or restraining order shall be granted without bond. Upon application of the Commission, the district courts of the United States and the United States courts of any territory or other place subject to the jurisdiction of the United States shall also have jurisdiction to issue writs of mandamus, or orders affording like relief, commanding any person to comply with the provisions of this chapter or any rule, regulation, or order of the Commission thereunder, including the requirement that such person take such action as is necessary to remove the danger of violation of this chapter or any such rule, regulation, or order:

Provided , That no such writ of mandamus, or order affording like relief, shall be issued ex parte. In general .— In any action brought under this section, the Commission may seek and the court shall have jurisdiction to impose, on a proper showing, on any person found in the action to have committed any violation— a civil penalty in the amount of not more than the greater of $100,000 or triple the monetary gain to the person for each violation; or in any case of manipulation or attempted manipulation in violation of section 9, 15, 13b, or 13(a)(2) of this title, a civil penalty in the amount of not more than the greater of $1,000,000 or triple the monetary gain to the person for each violation.

If a person on whom such a penalty is imposed fails to pay the penalty within the time prescribed in the court’s order, the Commission may refer the matter to the Attorney General who shall recover the penalty by action in the appropriate United States district court. Equitable remedies .— In any action brought under this section, the Commission may seek, and the court may impose, on a proper showing, on any person found in the action to have committed any violation, equitable remedies including— restitution to persons who have sustained losses proximately caused by such violation (in the amount of such losses); and disgorgement of gains received in connection with such violation.

Any action under this section may be brought in the district wherein the defendant is found or is an inhabitant or transacts business or in the district where the act or practice occurred, is occurring, or is about to occur, and process in such cases may be served in any district in which the defendant is an inhabitant or wherever the defendant may be found. In lieu of bringing actions itself pursuant to this section, the Commission may request the Attorney General to bring the action.

Where the Commission elects to bring the action, it shall inform the Attorney General of such suit and advise him of subsequent developments. The Commission shall provide the Securities and Exchange Commission with notice of the commencement of any proceeding and a copy of any order entered by the Commission against any futures commission merchant or introducing broker registered pursuant to section 6f(a)(2) of this title , any floor broker or floor trader exempt from registration pursuant to section 6f(a)(3) of this title , any associated person exempt from registration pursuant to section 6k(6) of this title , or any board of trade designated as a contract market pursuant to section 7b–1 of this title .

( Sept. 21, 1922, ch. 369, § 6c , as added Pub. L. 93–463, title II, § 211 , Oct. 23, 1974 , 88 Stat. 1402 ; amended Pub. L. 97–444, title II, § 220 , Jan. 11, 1983 , 96 Stat. 2308 ; Pub. L. 99–641, title I, § 104 , Nov. 10, 1986 , 100 Stat. 3557 ; Pub. L. 102–546, title II, § 221 , Oct. 28, 1992 , 106 Stat. 3614 ; Pub. L. 106–554, § 1(a)(5) [title I, § 123(a)(15), title II, § 253(c)] , Dec. 21, 2000 , 114 Stat. 2763 , 2763A–409, 2763A–449; Pub. L. 110–234, title XIII, § 13103(c) , May 22, 2008 , 122 Stat. 1434 ;

Pub. L. 110–246, § 4(a) , title XIII, § 13103(c), June 18, 2008 , 122 Stat. 1664 , 2196; Pub. L. 111–203, title VII , §§ 741(b)(5), 744, July 21, 2010 , 124 Stat. 1731 , 1735.)

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CFR

§ 143.8
Inflation-adjusted civil monetary penalties.

16 references not yet in our index

Pub. L. 93-463
88 Stat. 1402
Pub. L. 97-444
96 Stat. 2308
Pub. L. 99-641
100 Stat. 3557
Pub. L. 102-546
106 Stat. 3614
Pub. L. 106-554
114 Stat. 2763
Pub. L. 110-234
122 Stat. 1434
Pub. L. 110-246
122 Stat. 1664
Pub. L. 111-203
124 Stat. 1731

Citation graph

cites case law

§ 13a–1

Enjoining or restraining violations

Fed. Reg.×47

C.F.R.×2

Pub. L.Pub. L. 93-463

Stat.88 Stat. 1402

Pub. L.Pub. L. 97-444

Stat.96 Stat. 2308

Pub. L.Pub. L. 99-641

Cites 16 · showing 5Cited by 49 across 2 sources