On Sat, 12 Dec 2009 02:37:55 -0600, F. George McDuffee
wrote:
snip
There seems to be very little actual teeth in the bill in the
form of jail time, fines, asset forfeiture, or revocation of
corporate charter. The only place I could find imprisonment
mentioned was page 1198 and that only for SIPC membership
representation.
snip
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I did locate a penalties section. Part 2 -- Enforcement and
Remedies. Pages 1105-1154

With the possible exception of page 1198, all penalties are civil
[and optional], and no minimum penalty is specified. Also the
permissive word "may," not the prescriptive "shall" is used when
authorization to share information about possible criminal
wrongdoing with the enforcement agencies such as the U.S.
Attorneys Office, FBI and IRS is discovered.

Statement about "half a loaf is better than none" should be
revised to "a slice of bread is better than none." Also there
appears to be considerable "preemption" of state laws that may
prevent any state AG action in this area.

This appears to be an effort "to show the folks back home that we
did something (without rocking the boat)" rather than any
substantive regulatory change.


Unka George (George McDuffee)
...............................
The past is a foreign country;
they do things differently there.
L. P. Hartley (1895-1972), British author.
The Go-Between, Prologue (1953).