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.
References in periodicals archive ?
He wrote the letter in response to the DEP's request for an explanation of how it was operating in light of a cease-and-desist order issued by Curtis Meskus, the town zoning officer.
At issue are two cease-and-desist orders made by Lahontan: one to the district in Lancaster to keep sewage off Edwards Air Force Base land and another to the district serving Palmdale to clean up nitrates in groundwater.
In November 2002, Board Enforcement Counsel initiated this action against Respondents, seeking an order of prohibition against Carl Thomas, a cease-and-desist order against all Respondents, and civil money penalties ranging from $10,000 to $250,000 against each Respondent.
The SEC wants an order commanding Siebel to comply with the cease-and-desist order, as well as injunctions and civil penalties again all defendants.
Joseph says he doesn't expect a fraud case to develop that will require a cease-and-desist order for perhaps six months -- the law went into effect July 1.
Independent agencies that performed detailed smokestack testing at the Polymer Resources plant testified at the trial that their evaluations of the stack emissions did not detect six of the eight compounds identified in the original cease-and-desist order.
Further, Lexar has asked the ITC to issue a cease-and-desist order which could require retailers and distributors to remove from their shelves and destroy all products containing Toshiba's infringing NAND chips.
Cascade Bancorp (NASDAQ: CACB), the holding company for Bank of the Cascades, has announced that the bank's regulators have terminated a cease-and-desist order against it.
Abshure's second cease-and-desist order was against companies called Global Partners Capital and Asia Pacific Energy Inc.
COURT OF APPEALS FOR THE Seventh Circuit has approved a corporate-wide cease-and-desist order by the National Labor Relations Board (NLRB) against Beverly California Corp.
Once this licensing problem was discovered, Oklahoma Insurance Commissioner Carroll Fisher slapped a cease-and-desist order on the company and its Web site, LifeQuote.
KPMG also consented to a cease-and-desist order of the Office of Thrift Supervision.