(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)
Due Process Restoration Act of 2015
(Sec. 2) This bill amends the Securities Exchange Act of 1934 to authorize a person who is a party to an administrative proceeding brought by the Securities and Exchange Commission (SEC) under a securities law, and against whom an order imposing a cease and desist order and a penalty may be issued at the conclusion of the proceeding, to require the SEC to terminate the proceeding. If a person requires the SEC to terminate a proceeding, the SEC may bring a civil action against that person for the same remedy that might have been imposed.
A legal or equitable remedy may be imposed on a person against whom an administrative proceeding was brought only upon a showing by the SEC of clear and convincing evidence that the person has violated the relevant provision of law.
Introduced in House
Introduced in House
Referred to the House Committee on Financial Services.
Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Referral.
Committee Consideration and Mark-up Session Held.
Ordered to be Reported by the Yeas and Nays: 32 - 25.
Reported by the Committee on Financial Services. H. Rept. 114-697.
Reported by the Committee on Financial Services. H. Rept. 114-697.
Placed on the Union Calendar, Calendar No. 539.
Llama 3.2 · runs locally in your browser
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line