Page:United States Statutes at Large Volume 78.djvu/671

 78 STAT. ]

PUBLIC LAW 88-503-AUG. 30, 1964

(e) Any person compelled to appear in person before the Commission or a representative thereof shall be accorded the right to be accompanied, represented, and advised by counsel. INJUNCTIONS

SEC. 12. Whenever it shall appear to the Commission that any person has engaged or is about to engage in any act or practice constituting a violation of this Act or any rule or order hereunder, it may in its discretion bring an action in the United States District Court for the District of Columbia to enjoin the acts or practices and to enforce compliance with this Act or any rule or order hereunder. Upon a proper showing a permanent or temporary injunction, restraining order, or writ of mandamus shall be granted and a receiver or conservator may be appointed for the defendant or the defendant's assets. The court may not require the Commission to post a bond. CRIMINAL PENALTIES

SEC. 13. (a) Any person who shall willfully violate any provision of this Act except sections 3 and 9, or who shall willfully violate section 9 knowing the representation to be false or misleading in any material respect, shall upon conviction be fined not more than $5,000 or imprisoned not more than three years, or both. (b) Any person who shall willfully violate section 3 of this Act shall upon conviction be fined not more than $5,000 or imprisoned not more than five years, or both. (c) Any person who shall willfully violate any rule or order under this Act shall upon conviction be fined not more than $5,000 or imprisoned not more than one year, or both; but no person may be imprisoned for the violation of any rule or order if he proves that he had no knowledge of the rule or order. (d) No person shall be prosecuted, tried, or punished for any offense under this Act or any rule or order hereunder unless the indictment is returned or the information is filed within five years next after such offense shall have been committed. (e) Nothing in this Act shall be construed to limit the power of the United States or of the District of Columbia to punish any person for any conduct which constitutes an offense under any other Act of Congress applicable in the District, or under any municipal ordinance or regulation of the District, or at common law. CIVIL LIABILITIES

SEC. 14. (a) Any person who— (1) offers or sells a security in violation of section 4(a) or 6(b) of this Act; or (2) offers or sells a security by means of any untrue statement of a material fact or any omission to state a material fact necessary in order to make the statements, in the light of the circumstances under which they were made, not misleading (the purchaser not knowing of such untruth or omission), and who shall not sustain the burden of proof that he did not know, and in the exercise of reasonable care could not have known, of such untruth or omission, shall be liable to the person purchasing such security from him, and the purchaser may bring a civil action to recover the consideration paid for the security with interest thereon and with costs and reasonable attorney fees less the amount of any income received on the security,

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