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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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| In 2004, Lahontan issued a cease-and-desist order to the Lancaster district to stop treated sewage from spilling into Rosamond Dry Lake at Edwards by fall 2008. Town selectmen then issued a cease-and-desist order and asked for the company to apply for a new permit. The Board therefore orders that the attached Order of Prohibition issue against Respondent Carl Thomas, and that the attached Cease-and-Desist Order be issued against all Respondents. |
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