TITLE VIII - CORPORATE AND CRIMINAL FRAUD ACCOUNTABILITY
SEC. 803. DEBTS NONDISCHARGEABLE IF INCURRED IN VIOLATION OF SECURITIES FRAUD
LAWS.
Section 523(a) of title 11, United States Code, is amended -
(1) in paragraph (17), by striking "or" after the
semicolon;
(2) in paragraph (18), by striking the period at the end and
inserting "; or"; and
(3) by adding at the end, the following:
"(19) that -
"(A) is for -
"(i) the violation of any of the Federal securities laws
(as that term is defined in section 3(a)(47) of the Securities Exchange Act
of 1934), any of the State securities laws, or any regulation or order issued
under such Federal or State securities laws; or
"(ii) common law fraud, deceit, or manipulation in connection
with the purchase or sale of any security; and
"(B) results from -
"(i) any judgment, order, consent order, or decree entered
in any Federal or State judicial or administrative proceeding;
"(ii) any settlement agreement entered into by the debtor;
or
"(iii) any court or administrative order for any damages,
fine, penalty, citation, restitutionary payment, disgorgement payment, attorney
fee, cost, or other payment owed by the debtor.".
About OpenPages
OpenPages is the leading provider of Governance, Compliance and Risk
Management solutions
for Sarbanes-Oxley Compliance, Financial Controls Management, General
Compliance Management, Operational
Risk Management and IT
Governance.
The company’s solutions provide the visibility, decision support and
control to improve accountability, better manage risk, achieve compliance
with numerous regulations, improve operational performance and align strategies
to ensure better results.
Market-leading corporations in financial services, manufacturing, telecommunications,
media/entertainment, retail/consumer, energy, high technology, health services
and life sciences rely on OpenPages to help them achieve sustainable governance,
risk and compliance management -- enabling them to become well-governed businesses.
Founded in 1996, the company is headquartered in Waltham, Massachusetts, with
regional offices throughout North America and international offices in London, Munich, Paris, Tokyo and Hong Kong.
For more information on OpenPages' suite of business governance software solutions
or to register for an online demonstration, please call 781-693-5999 or visit
www.openpages.com.
|
