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Cease-and-desist order |
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Cease-and-desist order An order issued after notice and opportunity for hearing, requiring a depository institution, a holding company or a depository institution official to terminate unlawful, unsafe or unsound banking practices. Cease-and-desist orders are issued by the appropriate federal regulatory agencies under the Financial Institutions Supervisory Act and can be enforced directly by the courts. Cease-and-desist order An order from a government regulator to halt an action. Cease-and-desist orders are used to enforce licensing regulation, halt the sale of unregistered securities, or stop transactions believed to be fraudulent. The order states a period of time in which the recipient can contest it in court. If the recipient does not contest the order, or if the contest fails, the order becomes enforceable in a court of law. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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| His letter also demanded that he "agree in writing to permanently cease and desist from the advertising, promoting, marketing, sale or distribution of any products bearing or referring to Universal Property. The Federal Reserve Board announced on June 7, 2005, the issuance of a final decision and cease and desist order against eighteen former institution-affiliated parties of First Western Bank, Cooper City, Florida, and an order of prohibition against Carl V. STATE regulators have lifted a cease and desist order against Platinum Health Plus three months after cracking down on it and other discount health plans, maintaining some are fraudulent. |
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