H.R. 2873 would provide enhanced enforcement authority to the Securities and Exchange Commission.
Detailed Summary
Enhanced S.E.C. Enforcement Authority Act - Amends the Securities Act of 1933, the Securities Exchange Act of 1934, the Investment Company Act of 1940, and the Investment Company Act of 1940 to declare that, in any action or proceeding instituted under such Acts by the Securities and Exchange Commission (SEC) in a U.S. district court for any judicial district, subpoenas issued by or on behalf of the court to compel the attendance of witnesses or the production of documents or tangible things (or both) may be served in any other district (thus granting the SEC nationwide service of process).
States that such subpoenas may be served and enforced without application to the court or a showing of cause.
Status of the Legislation
Latest Major Action: 6/15/2009: Referred to House committee. Status: Referred to the House Committee on Financial Services.
Points in Favor
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Points Against
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