The Securities Enforcement Remedies Act:
A) allows for the prohibition of an individual's service as an officer or director of a business organization.
B) created the SEC.
C) changes membership requirements of corporate audit committees.
D) requires proof of criminal violation for individual and organizational fines to be imposed.
E) refrains from imposing liability on a theory of fraud on any person who shall make or cause to be made any false or misleading statements.

Question

Quizplus · Accepted Answer

The Securities Enforcement Remedies Act provides that civil fines of up to $500,000 per organization and $100,000 per individual may be imposed and collected by the courts. An individual found to have violated the securities laws may be prohibited by the court from serving as an officer or director of a business organization.