Financial

Cease-and-desist order

Also found in: Dictionary, Legal.

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.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
References in periodicals archive
The Board agrees that a prohibition order, civil monetary penalties and cease-and-desist order should be issued, as described in detail below.
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.
Colorado, known as a haven for penny-stock cheats during much of the "greed-is-good" 9805, finally gave its securities commissioner, Fred Joseph, the power to issue cease-and-desist orders against suspected stock-fraud thieves.
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.
The IC on Wednesday issued a cease-and-desist order against Caritas Health, ordering it to stop selling new products and transacting new HMO business.
Funa last July 8 issued the cease-and-desist order against Caritas Health Shield following 'numerous complaints received by the IC on the alleged fraudulent swiping of credit/debit cards and alleged misrepresentations of the company's sales agents.'
The town immediately filed suit in Worcester Superior Court seeking a preliminary injunction to enforce its cease-and-desist order halting the delivery of the storage tanks.
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.com.
KPMG also consented to a cease-and-desist order of the Office of Thrift Supervision.
Copyright © 2003-2025 Farlex, Inc Disclaimer
All content on this website, including dictionary, thesaurus, literature, geography, and other reference data is for informational purposes only. This information should not be considered complete, up to date, and is not intended to be used in place of a visit, consultation, or advice of a legal, medical, or any other professional.