§80a–41. Enforcement of subchapter — Inbound Citations
15 U.S.C. § 80a–41
Cited by 2 provisions in release 119-102.
Citations to 15 U.S.C. § 80a–41 as a whole
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(b) For purposes of any action brought by the Commission under subsection (d) or (e) of section 80a–41 of this title, any person that knowingly or recklessly provides substantial assistance to another person in violation of a provision of this subchapter, or of any rule or regulation issued under this subchapter, shall be deemed to be in violation of such provision to the same extent as the person to whom such assistance is provided.
Citations to §80a–41(b)
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(2) Notwithstanding section 1105 or 1107 of the Right to Financial Privacy Act of 1978 [12 U.S.C. 3405 or 3407], the Commission may have access to and obtain copies of, or the information contained in financial records of a customer from a financial institution without prior notice to the customer upon an ex parte showing to an appropriate United States district court that the Commission seeks such financial records pursuant to a subpena issued in conformity with the requirements of section 19(b)1 of the Securities Act of 1933, section 21(b) of the Securities Exchange Act of 1934 [15 U.S.C. 78u(b)], section 42(b) of the Investment Company Act of 1940 [15 U.S.C. 80a–41(b)], or section 209(b) of the Investment Advisers Act of 1940 [15 U.S.C. 80b–9(b)], and that the Commission has reason to believe that—(A) delay in obtaining access to such financial records, or the required notice, will result in—(i) flight from prosecution;(ii) destruction of or tampering with evidence;(iii) transfer of assets or records outside the territorial limits of the United States;(iv) improper conversion of investor assets; or(v) impeding the ability of the Commission to identify or trace the source or disposition of funds involved in any securities transaction;(B) such financial records are necessary to identify or trace the record or beneficial ownership interest in any security;(C) the acts, practices or course of conduct under investigation involve—(i) the dissemination of materially false or misleading information concerning any security, issuer, or market, or the failure to make disclosures required under the securities laws, which remain uncorrected; or(ii) a financial loss to investors or other persons protected under the securities laws which remains substantially uncompensated; or(D) the acts, practices or course of conduct under investigation—(i) involve significant financial speculation in securities; or(ii) endanger the stability of any financial or investment intermediary.