SEC Act of 2025
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Overview
This bill, titled the Securities Enforcement Clarity Act of 2025, clarifies how multiple violations of securities laws are treated when calculating penalties. It establishes that separate acts of noncompliance are considered a single violation if they stem from a common cause, the same misstatement or omission, or a continuing failure to comply. The bill applies to various securities laws and involves entities like the Securities and Exchange Commission (SEC) and regulated investment firms.
Key provisions
- Defines a single violation for penalty calculations when acts are linked by a common or overlapping cause.
- Specifies that the same misstatement or omission constitutes a single violation.
- Establishes a single violation for continuing failures to comply.
- Applies to violations under the Securities Act of 1933, Securities Exchange Act of 1934, Investment Company Act of 1940, and Investment Advisors Act of 1940.
- Modifies sections of these acts to incorporate the new definition of a single violation.
- Addresses violations related to the registration, offer, and sale of securities.
- Covers the conduct of brokers, dealers, and investment advisors.
- Clarifies the determination of violations for purposes of imposing penalties.
Who is affected
- Investors
- Securities Industry Professionals (Brokers, Dealers, Investment Advisors)
- The Securities and Exchange Commission (SEC)
Bill text
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Sponsors
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1 on record
Primary sponsor
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