§ 25252. — 25252. (Amended by Stats. 2013, Ch. 335, Sec. 4.)

California § 25252.

• Jurisdiction: California
• Code CORP: Corporations Code - CORP
• Div.: 1.
• Title 4.: DIVISION 1. CORPORATE SECURITIES LAW OF 1968
• Part 3.: PART 3. REGULATION AND NOTICE FILING REQUIREMENTS OF AGENTS, BROKER-DEALERS, INVESTMENT ADVISER REPRESENTATIVES, AND INVESTMENT ADVISERS
• Ch. 4.: CHAPTER 4. General Provisions

Text

The commissioner may, after appropriate notice and opportunity for hearing, by orders, levy administrative penalties as follows:
(a)
Any person subject to this division, other than a broker-dealer or investment adviser, who willfully violates any provision of this division, or who willfully violates any rule or order adopted or issued pursuant to this division, is liable for administrative penalties of not more than one thousand dollars ($1,000) for the first violation, and not more than two thousand five hundred dollars ($2,500) for each subsequent violation.
(b)
Any broker-dealer or investment adviser that willfully violates any provision
of this division to which it is subject, or that willfully violates any rule or order adopted or issued pursuant to this division and to which it is subject, is liable for administrative penalties of not more than five thousand dollars ($5,000) for the first violation, not more than ten thousand dollars ($10,000) for the second violation, and not more than fifteen thousand dollars ($15,000) for each subsequent violation.
(c)
The administrative penalties shall be collected by the commissioner and paid into the State Corporations Fund.
(d)
The administrative penalties available to the commissioner pursuant to this section are not exclusive, and may be sought and employed in any combination with civil, criminal, and other administrative remedies deemed advisable by the commissioner to enforce the provisions of this division.
(e)
After the exhaustion of the review procedures provided in accordance with the provisions of the Administrative Procedure Act, Chapter 5 (commencing with Section 11500) of Part 1 of Division 3 of Title 2 of the Government Code, the commissioner may apply to the appropriate superior court for a judgment in the amount of the administrative penalty and costs awarded in a final decision and order compelling the respondent, or the named or cited person, to comply with the final decision of the commissioner brought under this division. The application shall include a certified copy of the final decision of the commissioner and shall constitute a sufficient showing to warrant the issuance of the judgment and order from superior court.

Legislative History

Amended by Stats. 2013, Ch. 335, Sec. 4. (SB 538) Effective January 1, 2014.