TITLE III - CORPORATE RESPONSIBILITY
SEC. 305. OFFICER AND DIRECTOR BARS AND PENALTIES.
(a) UNFITNESS STANDARD. -
(1) SECURITIES EXCHANGE ACT OF 1934. - Section 21(d)(2) of
the Securities Exchange Act of 1934 (15 U.S.C. 78u(d)(2)) is amended by striking
"substantial unfitness" and inserting "unfitness".
(2) SECURITIES ACT OF 1933. - Section 20(e) of the Securities
Act of 1933 (15 U.S.C. 77t(e)) is amended by striking "substantial unfitness"
and inserting "unfitness".
(b) EQUITABLE RELIEF. - Section 21(d) of the Securities Exchange Act of 1934
(15 U.S.C. 78u(d)) is amended by adding at the end the following:
"(5) EQUITABLE RELIEF. - In any action or proceeding brought or instituted
by the Commission under any provision of the securities laws, the Commission
may seek, and any Federal court may grant, any equitable relief that may be
appropriate or necessary for the benefit of investors.".
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