TITLE VIII - CORPORATE AND CRIMINAL FRAUD ACCOUNTABILITY
SEC. 807. CRIMINAL PENALTIES FOR DEFRAUDING SHAREHOLDERS OF PUBLICLY TRADED
COMPANIES.
(a) IN GENERAL. - Chapter 63 of title 18, United States Code, is amended by
adding at the end the following:
"§ 1348. Securities fraud
"Whoever knowingly executes, or attempts to execute, a scheme or artifice
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"(1) to defraud any person in connection with any security
of an issuer with a class of securities registered under section 12 of the Securities
Exchange Act of 1934 (15 U.S.C. 78l) or that is required to file reports under
section 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78o(d)); or
"(2) to obtain, by means of false or fraudulent pretenses,
representations, or promises, any money or property in connection with the purchase
or sale of any security of an issuer with a class of securities registered under
section 12 of the Securities Exchange Act of 1934 (15 U.S.C. 78l) or that is
required to file reports under section 15(d) of the Securities Exchange Act
of 1934 (15 U.S.C. 78o(d)); shall be fined under this title, or imprisoned not
more than 25 years, or both.".
(b) CLERICAL AMENDMENT. - The table of sections at the beginning of chapter
63 of title 18, United States Code, is amended by adding at the end the following
new item:
"1348. Securities fraud.".
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