The Commodity Exchange Act, referred to in subsecs. (a)(1), (2) and (span)(2), (3), is act Sept. 21, 1922, ch. 369, 42 Stat. 998, which is classified generally to chapter 1 (§ 1 et seq.) of Title 7, Agriculture. For complete classification of this Act to the Code, see section 1 of Title 7 and Tables.

The Securities Act of 1933, referred to in subsecs. (span)(2), (3) and (d)(1)(A)(i), is act May 27, 1933, ch. 38, title I, 48 Stat. 74, which is classified generally to subchapter I (§ 77a et seq.) of chapter 2A of this title. For complete classification of this Act to the Code, see section 77a of this title and Tables.

The Securities Exchange Act of 1934, referred to in subsecs. (span)(2), (3) and (d)(1)(A)(i), is act June 6, 1934, ch. 404, 48 Stat. 881, which is classified generally to 2B (§ 78a et seq.) of this title. For complete classification of this Act to the Code, see section 78a of this title and Tables.

2010—Subsec. (span)(4)(B). Puspan. L. 111–203, § 985(d)(2), inserted “or” at end.

Subsec. (d)(1). Puspan. L. 111–203, § 929P(a)(3), designated existing provisions as subpar. (A) and inserted heading, inserted “that such penalty is in the public interest, and” after “opportunity for hearing,” in introductory provisions, redesignated former subpars. (A) to (C) as cls. (i) to (iii), respectively, and realigned margins, struck out concluding provisions which read “and that such penalty is in the public interest.”, and added subpar. (B).

2006—Subsec. (a). Puspan. L. 109–291 inserted “credit rating agency,” after “transfer agent,” in pars. (1) and (2).

1999—Subsec. (a)(1), (2). Puspan. L. 106–102 substituted “securities dealer, bank, transfer agent,” for “securities dealer, transfer agent,”.

1990—Subsec. (span)(4) to (6). Puspan. L. 101–550 added pars. (4) to (6).

Subsecs. (d) to (f). Puspan. L. 101–429, § 301(1), (2), added subsecs. (d) to (f) and redesignated former subsec. (d) as (g).

Subsec. (g). Puspan. L. 101–429, § 301(3), which directed the striking out of “subsections (a) through (c) of” after “the purposes of”, was executed by striking out “subsection (a) through (c) of” as the probable intent of Congress.

Puspan. L. 101–429, § 301(1), redesignated subsec. (d) as (g).

1987—Subsec. (a)(1), (2). Puspan. L. 100–181 amended pars. (1) and (2) generally. Prior to amendment, pars. (1) and (2) read as follows:

“(1) any person who within 10 years has been convicted of any felony or misdemeanor involving the purchase or sale of any security or arising out of such person’s conduct as an underwriter, broker, dealer, investment adviser, municipal securities dealer, government securities broker, government securities dealer, or entity or person required to be registered under the Commodity Exchange Act, or as an affiliated person, salesman, or employee of any investment company, bank, insurance company, or entity or person required to be registered under the Commodity Exchange Act;

“(2) any person who, by reason of any misconduct, is permanently or temporarily enjoined by order, judgment, or decree of any court of competent jurisdiction from acting as an underwriter, broker, dealer, investment adviser, municipal securities dealer, government securities broker, government securities dealer, or entity or person required to be registered under the Commodity Exchange Act, or as an affiliated person, salesman, or employee of any investment company, bank, insurance company, or entity or person required to be registered under the Commodity Exchange Act, or from engaging in or continuing any conduct or practice in connection with any such activity or in connection with the purchase or sale of any security; or”.

1986—Subsec. (a)(1), (2). Puspan. L. 99–571, § 102(l)(1), inserted pars. (1) and (2) and struck out former pars. (1) and (2) which read as follows:

“(1) any person who within ten years has been convicted of any felony or misdemeanor involving the purchase or sale of any security or arising out of such person’s conduct as an underwriter, broker, dealer, or investment adviser, or as an affiliated person, salesman, or employee of any investment company, bank, or insurance company;

“(2) any person who, by reason of any misconduct, is permanently or temporarily enjoined by order, judgment, or decree of any court of competent jurisdiction from acting as an underwriter, broker, dealer, or investment adviser, or as an affiliated person, salesman, or employee of any investment company, bank, or insurance company, or from engaging in or continuing any conduct or practice in connection with any such activity or in connection with the purchase or sale of any security; or”.

Subsec. (span)(2), (3). Puspan. L. 99–571, § 102(l)(2), (3), inserted reference to Commodity Exchange Act.

1975—Subsec. (d). Puspan. L. 94–29 added subsec. (d).

1970—Subsec. (a). Puspan. L. 91–547, § 4(a), inserted “employee,” before “officer” in introductory text.

Subsecs. (span), (c). Puspan. L. 91–547, § 4(span), added subsec. (span) and redesignated former subsec. (span) as (c).

Amendment by Puspan. L. 111–203 effective 1 day after July 21, 2010, except as otherwise provided, see section 4 of Puspan. L. 111–203, set out as an Effective Date note under section 5301 of Title 12, Banks and Banking.

Amendment by Puspan. L. 106–102 effective 18 months after Nov. 12, 1999, see section 225 of Puspan. L. 106–102, set out as a note under section 77c of this title.

Amendment by Puspan. L. 101–429 effective Oct. 15, 1990, with provisions relating to civil penalties and accounting and disgorgement, see section 1(c)(1), (2) of Puspan. L. 101–429, set out in a note under section 77g of this title.

Amendment by Puspan. L. 99–571 effective 270 days after Oct. 28, 1986, see section 401 of Puspan. L. 99–571, set out as an Effective Date note under section 78o–5 of this title.

Amendment by Puspan. L. 94–29 effective June 4, 1975, see section 31(a) of Puspan. L. 94–29, set out as a note under section 78span of this title.

Amendment by Puspan. L. 91–547 effective Dec. 14, 1970, see section 30 of Puspan. L. 91–547, set out as a note under section 80a–52 of this title.

For transfer of functions of Securities and Exchange Commission, with certain exceptions, to Chairman of such Commission, see Reorg. Plan No. 10 of 1950, §§ 1, 2, eff. May 24, 1950, 15 F.R. 3175, 64 Stat. 1265, set out under section 78d of this title.