Senate OKs Boosting SEC Powers: The Senate...

Senate OKs Boosting SEC Powers: The Senate passed by a voice vote a bill that would give the Securities and Exchange Commission broad new powers to impose stiff penalties for stock manipulation, falsifying of records and other securities law violations. Under the proposed law, the SEC, with court approval, could impose a maximum civil fine of $500,000--up from $100,000--on a far wider range of offenses, and bar securities violators from holding corporate office in any publicly held company. The bill must now be approved by the House.