CITE

    15 USC Sec. 80b-14                                          01/05/2009

EXPCITE

    TITLE 15 - COMMERCE AND TRADE
    CHAPTER 2D - INVESTMENT COMPANIES AND ADVISERS
    SUBCHAPTER II - INVESTMENT ADVISERS

HEAD

    Sec. 80b-14. Jurisdiction of offenses and suits

STATUTE

      The district courts of the United States and the United States
    courts of any Territory or other place subject to the jurisdiction
    of the United States shall have jurisdiction of violations of this
    subchapter or the rules, regulations, or orders thereunder, and,
    concurrently with State and Territorial courts, of all suits in
    equity and actions at law brought to enforce any liability or duty
    created by, or to enjoin any violation of this subchapter or the
    rules, regulations, or orders thereunder. Any criminal proceeding
    may be brought in the district wherein any act or transaction
    constituting the violation occurred. Any suit or action to enforce
    any liability or duty created by, or to enjoin any violation of
    this subchapter or rules, regulations, or orders thereunder, may be
    brought in any such district or in the district wherein the
    defendant is an inhabitant or transacts business, and process in
    such cases may be served in any district of which the defendant is
    an inhabitant or transacts business or wherever the defendant may
    be found. Judgments and decrees so rendered shall be subject to
    review as provided in sections 1254, 1291, 1292, and 1294 of title
    28. No costs shall be assessed for or against the Commission in any
    proceeding under this subchapter brought by or against the
    Commission in any court.

SOURCE

    (Aug. 22, 1940, ch. 686, title II, Sec. 214, 54 Stat. 856; Pub. L.
    100-181, title VII, Sec. 707, Dec. 4, 1987, 101 Stat. 1264; Pub. L.
    101-429, title IV, Sec. 403, Oct. 15, 1990, 104 Stat. 951.)

AMENDMENTS

      1990 - Pub. L. 101-429 inserted "and actions at law brought to
    enforce any liability or duty created by, or" after "all suits in
    equity" and "to enforce any liability or duty created by, or" after
    "Any suit or action".
      1987 - Pub. L. 100-181 substituted "sections 1254, 1291, 1292,
    and 1294 of title 28" for "sections 128 and 240 of the Judicial
    Code, as amended, and section 7, as amended, of the Act entitled
    'An Act to establish a court of appeals for the District of
    Columbia', approved February 9, 1893".
                     EFFECTIVE DATE OF 1990 AMENDMENT
      Amendment by Pub. L. 101-429 effective Oct. 15, 1990, with
    provisions relating to civil penalties and accounting and
    disgorgement, see section 1(c)(1), (2) of Pub. L. 101-429, set out
    in a note under section 77g of this title.

TRANSFER OF FUNCTIONS

      For transfer of functions of Securities and Exchange Commission,
    with certain exceptions, to Chairman of such Commission, see Reorg.
    Plan No. 10 of 1950, Secs. 1, 2, eff. May 24, 1950, 15 F.R. 3175,
    64 Stat. 1265, set out under section 78d of this title.