View all text of Part A [§ 681 - § 688]

§ 687f. Unlawful acts and omissions by officers, directors, employees, or agents
(a) Violation by licensee deemed violation by persons participating
(b) Breach of fiduciary duty
(c) Disqualification of officers and employees for dishonesty, fraud, or breach of trustExcept with the written consent of the Administration, it shall be unlawful—
(1) for any person hereafter to take office as an officer, director, or employee of a licensee, or to become an agent or participant in the conduct of the affairs or management of a licensee, if—
(A) he has been convicted of a felony, or any other criminal offense involving dishonesty or breach of trust, or
(B) he has been found civilly liable in damages, or has been permanently or temporarily enjoined by an order, judgment, or decree of a court of competent jurisdiction, by reason of any act or practice involving fraud or breach of trust; or
(2) for any person to continue to serve in any of the above-described capacities, if—
(A) he is hereafter convicted of a felony, or any other criminal offense involving dishonesty or breach of trust, or
(B) he is hereafter found civilly liable in damages, or is permanently or temporarily enjoined by an order, judgment, or decree of a court of competent jurisdiction, by reason of any act or practice involving fraud or breach of trust.
(Pub. L. 85–699, title III, § 314, as added Pub. L. 89–779, § 7, Nov. 6, 1966, 80 Stat. 1363.)