Delaware § 73-601 Administrative remedies

Delaware Statutes

§ 73-601 — Administrative remedies

Delaware § 73-601

Title6

Ch. 73SECURITIES ACT

Subch.Remedies for Violations

This text of Delaware § 73-601 (Administrative remedies) is published on Counsel Stack Legal Research, covering Delaware primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Del. Code tit. 6, § 73-601 (2026).

Text

(a)In any administrative proceeding before the Director, the Director may issue orders providing for the following remedies: cease and desist; fine; assessment of costs; restitution to investors; conditional or probationary registration; suspension or bar from registration; censure or reprimand; special reporting requirements; freezing of accounts in which it is believed that fraud has occurred, may be occurring, or is likely to occur; or other remedies which the Director determines to be in the public interest.

(b)In addition to the remedies set forth in subsection (a) of this section, the Director may order the payment of fines and other monetary sanctions for any violation of any provision of this chapter or any rule or order hereunder in an amount not to exceed $10,000 for each and

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(a) In any administrative proceeding before the Director, the Director may issue orders providing for the following remedies: cease and desist; fine; assessment of costs; restitution to investors; conditional or probationary registration; suspension or bar from registration; censure or reprimand; special reporting requirements; freezing of accounts in which it is believed that fraud has occurred, may be occurring, or is likely to occur; or other remedies which the Director determines to be in the public interest.

(b) In addition to the remedies set forth in subsection (a) of this section, the Director may order the payment of fines and other monetary sanctions for any violation of any provision of this chapter or any rule or order hereunder in an amount not to exceed $10,000 for each and every violation, plus the costs of investigation and prosecution. Each independent violation of this chapter counts as a separate instance for purposes of calculating penalties.

(c) Whenever it appears that a person has violated or is about to violate this chapter or any rule or order hereunder by failing to register or engaging in fraud or other prohibited conduct, the Director may summarily issue a cease and desist order against that person.

(1) Any person who is the subject of a cease and desist order shall be given notice of it as soon as practicable and may request a hearing before the Director on an application to set aside, limit, modify or suspend the order by filing:

a. A written request for a hearing; and

b. A written answer addressing the factual and legal findings of the order.

The opportunity to be heard is waived if the subject of the order fails to timely file a written answer and a written request for a hearing, in which case the order will remain in effect until it is modified or vacated by the Director. To the extent a hearing is properly requested and an answer properly filed, a hearing shall be noticed within 15 days from the date the request is received.

(2) If any person who is the subject of a cease and desist order, or any agent or employee of such person, subsequent to the issuance of the order engages in the prohibited conduct, the Director may certify the facts and apply for a contempt order to any Judge of the Superior Court, who shall upon such application hear the evidence as to the acts complained of. If the evidence warrants, the Judge shall punish such person in the same manner and to the same extent as for a contempt committed before the Superior Court, or shall commit such person upon the same conditions as if the doing of the forbidden act had occurred with reference to the process of, or in the presence of, the Superior Court.