Current through October 31, 2024
Section 201.514 - Temporary cease-and-desist orders: Judicial review; duration(a)Availability of judicial review. Judicial review of a temporary cease-and-desist order shall be available as provided in Section 8A(d)(2) of the Securities Act, 15 U.S.C. 77h-1(d)(2) , Section 21C(d)(2) of the Exchange Act, 15 U.S.C. 78u-3(d)(2) , Section 9(f)(4)(B) of the Investment Company Act, 15 U.S.C. 80a-9(f)(4)(B) , or Section 203(k)(4)(B) of the Investment Advisers Act, 15 U.S.C. 80b-3(k)(4)(B) .(b)Duration. Unless set aside, limited, or suspended, either by order of the Commission, a court of competent jurisdiction, or a hearing officer acting pursuant to § 201.531 , or by operation of § 201.513 , a temporary cease-and-desist order shall remain effective and enforceable until the earlier of:(1) The completion of the proceedings whether a permanent order shall be entered; or(2) 180 days, or such longer time as consented to by the respondent, after issuance of a briefing schedule order pursuant to § 201.540(b) , if an initial decision whether a permanent order should be entered is appealed.