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U.S. Code as of:
01/19/04
Section 79r. Investigations, injunctions, and enforcement of law
(a) Investigations to determine violations, aid in enforcement and
as basis for recommendations
The Commission, in its discretion, may investigate any facts,
conditions, practices, or matters which it may deem necessary or
appropriate to determine whether any person has violated or is
about to violate any provision of this chapter or any rule or
regulation thereunder, or to aid in the enforcement of the
provisions of this chapter, in the prescribing of rules and
regulations thereunder, or in obtaining information to serve as a
basis for recommending further legislation concerning the matters
to which this chapter relates. The Commission may require or permit
any person to file with it a statement in writing, under oath or
otherwise as it shall determine, as to any or all facts and
circumstances concerning a matter which may be the subject of
investigation. The Commission, in its discretion, may publish, or
make available to State commissions, information concerning any
such subject.
(b) Investigation of business, financial condition, etc., of
companies
The Commission upon its own motion or at the request of a State
commission may investigate, or obtain any information regarding the
business, financial condition, or practices of any registered
holding company or subsidiary company thereof or facts, conditions,
practices, or matters affecting the relations between any such
company and any other company or companies in the same
holding-company system.
(c) Administering oaths; subpenas; examining witnesses
For the purpose of any investigation or any other proceeding
under this chapter, any member of the Commission, or any officer
thereof designated by it, is empowered to administer oaths and
affirmations, subpena witnesses, compel their attendance, take
evidence, and require the production of any books, papers,
correspondence, memoranda, contracts, agreements, or other records
which the Commission deems relevant or material to the inquiry.
Such attendance of witnesses and the production of any such records
may be required from any place in any State or in any Territory or
other place subject to the jurisdiction of the United States at any
designated place of hearing.
(d) Court aid to compel giving testimony; penalty for refusal to
testify
In case of contumacy by, or refusal to obey a subpena issued to,
any person, the Commission may invoke the aid of any court of the
United States within the jurisdiction of which such investigation
or proceeding is carried on, or where such person resides or
carries on business, in requiring the attendance and testimony of
witnesses and the production of books, papers, correspondence,
memoranda, contracts, agreements, and other records. And such court
may issue an order requiring such person to appear before the
Commission or member or officer designated by the Commission, there
to produce records, if so ordered, or to give testimony touching
the matter under investigation or in question; and any failure to
obey such order of the court may be punished by such court as a
contempt thereof. All process in any such case may be served in the
judicial district whereof such person is an inhabitant or wherever
he may be found. Any person who, without just cause, shall fail or
refuse to attend and testify or to answer any lawful inquiry or to
produce books, papers, correspondence, memoranda, contracts,
agreements, or other records, if in his or its power so to do, in
obedience to the subpena of the Commission, shall be guilty of a
misdemeanor and, upon conviction, shall be subject to a fine of not
more than $1,000 or to imprisonment for a term of not more than one
year, or both.
(e) Injunctions to restrain violations; prosecutions
Whenever it shall appear to the Commission that any person is
engaged or about to engage in any acts or practices which
constitute or will constitute a violation of the provisions of this
chapter, or of any rule, regulation, or order thereunder, it may in
its discretion bring an action in the proper district court of the
United States or the United States courts of any Territory or other
place subject to the jurisdiction of the United States, to enjoin
such acts or practices and to enforce compliance with this chapter
or any rule, regulation, or order thereunder, and upon a proper
showing a permanent or temporary injunction or decree or
restraining order shall be granted without bond. The Commission may
transmit such evidence as may be available concerning such acts or
practices to the Attorney General, who, in his discretion, may
institute the appropriate criminal proceedings under this chapter.
(f) Mandamus to compel compliance with law
Upon application of the Commission, 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 to issue writs of mandamus commanding any person
to comply with the provisions of this chapter or any rule,
regulation, or order of the Commission thereunder.
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