H.R. 4344: To amend the Securities Exchange Act of 1934 to allow the Securities and Exchange Commission to seek and Federal courts to grant disgorgement of unjust enrichment, and for other purposes.
CBO Score
$41 million
Documentation
Date of Report
Mon November 18th, 2019
Notes
Pay-as-you-go estimate only; "CBO also anticipates that a small percentage of the new actions would stem from information provided by whistleblowers who would be eligible for payments from the SEC. Those payments would be recorded in the budget as additional direct spending."
CBO Report Details
Legislation Details
116th Congress
To amend the Securities Exchange Act of 1934 to allow the Securities and Exchange Commission to seek and Federal courts to grant disgorgement of unjust enrichment, and for other purposes.
Sponsor: Rep. Ben McAdams — D — UT
Provides statutory authority for the Securities and Exchange Commission (SEC) to seek disgorgement (i.e., repayment) as a remedy for unjust enrichment gained through a securities law violation. It also allows the SEC to seek certain injunctive relief.
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