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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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| Laverdure, who was angered last month when the cease-and-desist order arrived unexpectedly at the start of the Colorado Securities Commissioner Fred Joseph said his case against the company ends with the cease-and-desist order unless Regal violates the order. The March 2 Banking & Finance column incorrectly stated that Saehan Bancorp has received a cease-and-desist order from federal regulators in recent months. |
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