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 ?
com/cease-and-desist) Upcounsel , another website for legal advice, expalains that cease and desist letters, unlike cease and desist orders, have almost no legal standing.
The financial crisis is causing a dramatic rise in the number of cease and desist orders by bank regulators, according to analysis by The Regulatory Fundamentals Group (RFG) LLC.
In September 2004, the DMHC began an extensive campaign to protect California consumers against fraudulent discount health card companies, issuing a total of seven cease and desist orders requiring them to cease doing business in California.
6,765,788 ("the '788 Patent"), entitled "Method and apparatus for integrating personal computer and electronic device functions," and to enter permanent exclusion orders and permanent cease and desist orders at the conclusion of the investigation.
In March 2000, the Federal Reserve Board terminated temporary cease and desist orders that had been issued in 1998 against Banco Nacional de Mexico, Mexico City, Mexico; Banco Internacional, S.
The respective administrative cease and desist orders that will be entered in accordance with the settlements allege the use of fraudulent accounting practices by certain former members of Candie's senior management from August 1997 until the Spring of 1999.
seeking to overturn a general exclusion order and cease and desist orders issued in 1999 by the United States International Trade Commission (ITC) that ban importation into the U.
In January 1991, the Board authorized a formal investigation with full discovery powers, made criminal referrals, and issued cease and desist orders upon consent, requiring the BCCI to divest shares of CCAH that it controls and to terminate its activities in the United States.
In June 1999, the ITC issued a general exclusion order and cease and desist orders that ban importation into the U.
variety of actions ranging from warnings to cease and desist orders, which can be enforced through state statutes.
Moses and IFA entered into joint agreements with the Department of Banking and Finance, consenting to the issuance of permanent cease and desist orders.
At least eight other states have also issued Cease and Desist Orders against FLIC.