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During 2006 and 2007, securities fraud class actions were driven by market wide events, such as the 2006 backdating scandal and the 2007 subprime crisis. Securities fraud lawsuits remained below historical averages. [35] Some manifestations of this white collar crime have become more frequent as the Internet gives criminals greater access to prey.
The Securities and Exchange Board of India Act, 1992 is an act that was enacted for regulation and development of securities market in India. It was amended in the years 1995, 1999, and 2002 to meet the requirements of changing needs of the securities market. It was the 15th Act of 1992.
Under Section 10(b) of the 1934 Act, SEC Rule 10b-5, prohibits fraud related to securities trading. The Insider Trading Sanctions Act of 1984 and the Insider Trading and Securities Fraud Enforcement Act of 1988 place penalties for illegal insider trading as high as three times the amount of profit gained or loss avoided from illegal trading. [69]
Fraud and financial crime patterns have become more digital and faster changing, leveraging the underlying characteristics of the underlying digital payments infrastructures. This caused traditional rule based systems to be ineffective and led the way to machine learning and AI-based fraud detection techniques.
The Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 (also known as the SARFAESI Act) is an Indian law. It allows banks and other financial institutions to auction residential or commercial properties of defaulters to recover loans . [ 1 ]
The Securities Fraud Deterrence and Investor Restitution Act was H.R. 2179 (2003-2004) and is a bill currently on the Union Calendar.. Its official titles as introduced, is To enhance the authority of the Securities and Exchange Commission to investigate, punish, and deter securities laws violations, and to improve its ability to return funds to defrauded investors, and for other purposes but ...
SEC Rule 10b-5, codified at 17 CFR 240.10b-5, is one of the most important rules targeting securities fraud in the United States. It was promulgated by the U.S. Securities and Exchange Commission (SEC), pursuant to its authority granted under § 10(b) of the Securities Exchange Act of 1934. [1]
The Fraud Enforcement and Recovery Act of 2009, or FERA, Pub. L. 111–21 (text), S. 386, 123 Stat. 1617, enacted May 20, 2009, is a public law in the United States enacted in 2009. The law enhanced criminal enforcement of federal fraud laws, especially regarding financial institutions, mortgage fraud, and securities fraud or commodities fraud.