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Bill114th CongressFiled Oct 22, 2015Finance and Financial Sector
H.R. 3798

Due Process Restoration Act of 2015

Bill journey · stage 2 of 5

Under committee review

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What it doesSummary reported to house without amendment (Jul 21, 2016)

(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)

Due Process Restoration Act of 2015

(Sec. 2) This bill amends the Securities Exchange Act of 1934 to authorize a person who is a party to an administrative proceeding brought by the Securities and Exchange Commission (SEC) under a securities law, and against whom an order imposing a cease and desist order and a penalty may be issued at the conclusion of the proceeding, to require the SEC to terminate the proceeding. If a person requires the SEC to terminate a proceeding, the SEC may bring a civil action against that person for the same remedy that might have been imposed.

A legal or equitable remedy may be imposed on a person against whom an administrative proceeding was brought only upon a showing by the SEC of clear and convincing evidence that the person has violated the relevant provision of law.

What just happenedJul 21, 2016

Placed on the Union Calendar, Calendar No. 539.

Who’s behind it

Rep. Garrett, Scott [R-NJ-5](R-NJ)Sponsor
1 cosponsor1 R
Read on Congress.gov
1cosponsors1committees9actions4subjects
  1. Jul 21, 2016CalendarsH12410

    Placed on the Union Calendar, Calendar No. 539.

  2. Jul 21, 2016CommitteeH12200

    Reported by the Committee on Financial Services. H. Rept. 114-697.

    Financial Services Committee
  3. Jul 21, 2016Committee5000

    Reported by the Committee on Financial Services. H. Rept. 114-697.

    Financial Services Committee
  4. Mar 2, 2016Committee

    Ordered to be Reported by the Yeas and Nays: 32 - 25.

    Financial Services Committee
  5. Mar 2, 2016Committee

    Committee Consideration and Mark-up Session Held.

    Financial Services Committee
  6. Dec 2, 2015Committee

    Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Referral.

    Capital Markets Subcommittee
  7. Oct 22, 2015IntroReferralH11100

    Referred to the House Committee on Financial Services.

    Financial Services Committee
  8. Oct 22, 2015IntroReferralIntro-H

    Introduced in House

  9. Oct 22, 2015IntroReferral1000

    Introduced in House

Reported to House without amendmentJul 21, 201679

(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)

Due Process Restoration Act of 2015

(Sec. 2) This bill amends the Securities Exchange Act of 1934 to authorize a person who is a party to an administrative proceeding brought by the Securities and Exchange Commission (SEC) under a securities law, and against whom an order imposing a cease and desist order and a penalty may be issued at the conclusion of the proceeding, to require the SEC to terminate the proceeding. If a person requires the SEC to terminate a proceeding, the SEC may bring a civil action against that person for the same remedy that might have been imposed.

A legal or equitable remedy may be imposed on a person against whom an administrative proceeding was brought only upon a showing by the SEC of clear and convincing evidence that the person has violated the relevant provision of law.

Introduced in HouseOct 22, 2015

Due Process Restoration Act of 2015

This bill amends the Securities Exchange Act of 1934 to authorize a person who is a party to an administrative proceeding brought by the Securities and Exchange Commission (SEC) under a securities law, and against whom an order imposing a cease and desist order and a penalty may be issued at the conclusion of the proceeding, to require the SEC to terminate the proceeding. If a person requires the SEC to terminate a proceeding, the SEC may bring a civil action against that person for the same remedy that might have been imposed.

A legal or equitable remedy may be imposed on a person against whom an administrative proceeding was brought only upon a showing by the SEC of clear and convincing evidence that the person has violated the relevant provision of law.

Due Process Restoration Act of 2015 — Informed