Civil Money Penalty

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Civil Money Penalty

A fine assessed by a court on a person or entity that has profited from violations of securities law and regulation. For example, if a broker makes illegal insider trades from information gleaned from a client, he/she may have to pay a civil money penalty. Ordinarily, the civil money penalty is equal to the profit that the violator made from his/her activities.

References in periodicals archive ?

In contrast, judicial review of a civil money penalty is conducted by the appropriate federal circuit court.

Beware the Mortgagee Review Board: the Federal Housing Administration has a powerful enforcement arm that sanctions lenders that don't follow FHA's rules. Smart lenders will take all necessary precautions to avoid MRB sanctions

The order requires Irwin Union Bank to pay a civil money penalty of $22,300, which will be remitted to the Federal Emergency Management Agency for deposit into the National Flood Mitigation Fund.

Enforcement actions

The largest maximum civil money penalty a credit union could receive for filing its call report late this past quarter is $106,000, the NCUA said.

NCUA sets fines

The proposed settlement would also order the company to cease and desist from committing or causing any such violations in the future and to pay a civil money penalty.

-Fifth Third to settle with SEC

According to HUD, the Mortgagee Review Board found that Golden First Mortgage failed to inform HUD/FHA of an investigation by the Office of Thrift Supervision (OTS) that centered on the business activities of the company's president, including his involvement in a civil money penalty.

HUD ramps up crackdown on fraud, suspends three lenders

section] 1818(i)(4) in order to require the payment into the court of the sales proceeds necessary to pay the civil money penalty amounts assessed in the Notice in the event the Board's final decision assessed penalties against the Respondents.

Final enforcement decisions issued by the Board of Governors

Wachovia has also agreed to pay the OCC a civil money penalty of $50 million.

Wachovia Bank, N.A. Settles Previously Disclosed Compliance Matters

The Office of the Comptroller of the Currency (OCC) today assessed a $20 million civil money penalty against Wells Fargo Bank, N.

United States : OCC Assesses Penalty Against Wells Fargo; Orders Restitution for Violations of the Servicemembers Civil Relief Act

The settlement with the Fed includes the entry of a cease and desist order and a civil money penalty of USD342m.

Citigroup announces US foreign exchange settlements

The $25 million civil money penalty reflects a number of factors, including the scope and duration of the violation and financial harm to consumers from the unfair practices.

BoA to refund $460 million

The bank said it has agreed to payment of a civil money penalty in the amount of USD 10.

-TCF National Bank agrees to US compliance settlement

Failure to comply can lead to a civil money penalty for each violation, regulatory enforcement action, private plaintiff lawsuits, negative publicity and loss of business, explained Helen "Rusty" Beckel, senior vice president, strategy and market development, Harland Financial Solutions.