Penalty for unfair conduct by depositories: prescribed fine or disgorgement may be imposed, whichever yields higher sanction. A new provision makes a depository liable for failing to conduct business fairly with participants, issuers or their agents, or persons associated with the securities markets, contrary to the Board's rules, regulations or directions; the sanction comprises a statutory minimum fine, an upper fine limit, or an alternative penalty equal to three times gains made from the failure, whichever is higher.
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Penalty for unfair conduct by depositories: prescribed fine or disgorgement may be imposed, whichever yields higher sanction.
A new provision makes a depository liable for failing to conduct business fairly with participants, issuers or their agents, or persons associated with the securities markets, contrary to the Board's rules, regulations or directions; the sanction comprises a statutory minimum fine, an upper fine limit, or an alternative penalty equal to three times gains made from the failure, whichever is higher.
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