Page:United States Statutes at Large Volume 122.djvu/2792

 12 2 STA T . 2 769PUBLIC LA W 11 0– 2 8 9 —J UL Y3 0, 2008 (iv)bystr i k i ng s u b pa ragrap h ( B )an d ins e rting the fol lo w ing

‘(B) the violation or pra c tice involved a reckless dis - regard for the law or any applicable regulations or prior order of the D irector ’; and ( C ) in paragraph ( 4 ) , by inserting ‘‘loan or’’ before ‘‘asset’’; ( 5 ) in subsection (e), by inserting ‘‘or entity-affiliated party’’ — ( A ) before ‘‘or any e x ecutive’’; and (B) before the period at the end; and ( 6 ) in subsection (f)— (A) by striking ‘‘enterprise’’ and inserting ‘‘regulated entity, finance facility,’’; and (B) by striking ‘‘or director’’ and inserting ‘‘director, or entity-affiliated party’’ .SEC.1 1 52 . T E MPORA R Y CEASE A ND DES I ST PROCEEDIN G S. S ection 1372 of the F ederal H ousing E nterprises Financial Safety and Soundness Act of 1 9 92 (12 U .S.C. 4632) is a m ended— (1) by striking subsection (a) and inserting the following: ‘‘(a) GROUNDSF OR I SSU A N CE .— ‘‘(1) IN G ENERA L .—If the Director determines that the actions specified in the notice of charges served upon a regu- lated entity or any entity-affiliated party pursuant to section 1371(a), or the continuation thereof, is likely to cause insolvency or significant dissipation of assets or earnings of that entity, or is likely to weaken the condition of that entity prior to the completion of the proceedings conducted pursuant to sec- tions 1371 and 1373, the Director may— ‘‘(A) issue a temporary order re q uiring that regulated entity or entity-affiliated party to cease and desist from any such violation or practice; and ‘‘(B) require that regulated entity or entity-affiliated party to take affirmative action to prevent or remedy such insolvency, dissipation, condition, or pre j udice pending completion of such proceedings. ‘‘(2) ADD IT IONAL RE Q UIRE M ENTS.—An order issued under paragraph (1) may include any requirement authori z ed under subsection 1371(d).’’; (2) in subsection (b)— (A) by striking ‘‘or director’’ and inserting ‘‘director, or entity-affiliated party’’; and (B) by striking ‘‘enterprise’’ each place that term appears and inserting ‘‘regulated entity’’; (3) in subsection (c), by striking ‘‘enterprise’’ each place that term appears and inserting ‘‘regulated entity’’; (4) in subsection (d)— (A) by striking ‘‘or director’’ each place that term appears and inserting ‘‘director, or entity-affiliated party’’; and (B) by striking ‘‘An enterprise’’ and inserting ‘‘A regu- lated entity’’; and (5) in subsection (e)— (A) by striking ‘‘request the Attorney General of the United States to’’; and

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