S. 3219, The Senior Investor Protections Enhancement Act of 2008

• This item is from the 110th Congress (2007-2008) and is no longer current. Comments, voting, and wiki editing have been disabled, and the cost/savings estimate has been frozen.

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S. 3219 would enhance penalties for violations of securities protections that involve targeting seniors.

Detailed Summary

Senior Investor Protections Enhancement Act of 2008 - Amends the Securities Act of 1933, the Securities Exchange Act of 1934, the Investment Company Act of 1940, and the Investment Advisers Act of 1940 to increase to a maximum of $50,000 the civil penalty for a violation of the Act primarily directed toward or committed against a senior (age 62 or older).

Directs the United States Sentencing Commission to review and amend federal sentencing guidelines and policy statements to ensure that guideline offense levels and enhancements appropriately punish criminal violations of the securities laws against seniors.

Status of the Legislation

Latest Major Action: 6/27/2008: Referred to Senate committee. Status: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Points in Favor

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Points Against

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