Senators Mark Warner (D-Va.) and John Kennedy (R-La.), members of the Senate Banking Committee, have introduced the Securities Fraud Enforcement and Investor Compensation Act, bipartisan legislation that would empower the Securities and Exchange Commission to better seek restitution for investors harmed by securities fraud.
The bill, filed this week, would give the SEC a broader range of tools to seek compensation for investors who’ve lost money to Ponzi schemes and other investment scams. Perhaps most importantly, it would extend the window of time the Commission can pursue a claim on an investor’s behalf from five years to 10.
