CITE

    15 USC Sec. 80a-43                                          01/05/2009

EXPCITE

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

HEAD

    Sec. 80a-43. 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. A criminal proceeding based
    upon a violation of section 80a-33 of this title, or upon a failure
    to file a report or other document required to be filed under this
    subchapter, may be brought in the district wherein the defendant is
    an inhabitant or maintains his principal office or place of
    business. 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. The Commission may intervene as a party in
    any action or suit to enforce any liability or duty created by, or
    to enjoin any noncompliance with, section 80a-35(b) of this title
    at any stage of such action or suit prior to final judgment
    therein.

SOURCE

    (Aug. 22, 1940, ch. 686, title I, Sec. 44, 54 Stat. 844; Pub. L. 91-
    547, Sec. 22, Dec. 14, 1970, 84 Stat. 1430.)

AMENDMENTS

      1970 - Pub. L. 91-547 substituted reference to "sections 1254,
    1291, 1292, and 1294 of title 28" for "sections 225 and 347 of
    title 28 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' " and provided for Commission intervention as a
    party in any action or suit to enforce any liability or duty
    created by, or to enjoin any noncompliance with, section 80a-35(b)
    of this title at any stage of such action or suit prior to final
    judgment therein, respectively.
                     EFFECTIVE DATE OF 1970 AMENDMENT
      Amendment by Pub. L. 91-547 effective Dec. 14, 1970, see section
    30 of Pub. L. 91-547, set out as a note under section 80a-52 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.