Grounds for imposition of sanctions.

CFR · 2024-01-01 · US · Title 12

(a) (1) That such municipal securities dealer or such person (i) Has committed any prohibited act or omitted any required act specified in subparagraph (A), (D), or (E) of section 15(b)(4) of the Exchange Act, as amended (15 U.S.C. 78o); (ii) Has been convicted of any offense specified in section 15(b)(4)(B) of the Exchange Act within ten years of commencement of proceedings under this subpart; or (iii) Is enjoined from any act, conduct, or practice specified in section 15(b)(4)(C) of the Exchange Act; and (2) That it is in the public interest to impose any of the sanctions set forth in paragraph (a) of this section. (b) (1) That the transfer agent or clearing agency has willfully violated, or is unable to comply with, any applicable provision of section 17 or 17A of the Exchange Act, as amended, or any applicable rule or regulation issued pursuant thereto; and (2) That it is in the public interest to impose any of the sanctions set forth in paragraph (b) of this section.

official document · source cfr-2024 · id 12:§ 308.135