Penalty amendment introduces mandatory minimum sanction and preserves maximum sanction, altering enforcement range under securities law. The amendment replaces provision permitting a penalty up to an established ceiling with language requiring that any penalty imposed shall not be less than ... Summary
Penalty amendment introduces mandatory minimum sanction and preserves maximum sanction, altering enforcement range under securities law.
The amendment replaces provision permitting a penalty up to an established ceiling with language requiring that any penalty imposed shall not be less than a specified minimum while allowing imposition up to the pre-existing maximum, thereby creating a bounded sanctioning range with both a mandatory floor and an upper limit for the covered contravention under the Act.
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