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Financial and Securities Fraud

With recent turmoil in the stock markets and increased resources at their disposal, the federal government has repeatedly stated that financial and securities prosecutions are an increasingly high priority for the foreseeable future. At the Arnold Law Firm, our experienced federal criminal defense lawyers defend clients charged with financial and securities fraud in Florida and Georgia.

Title 15 of the United States Code contains numerous provisions which prohibit certain activities related to Financial Institutions and Securities Transactions. Dating back to the Securities Act of 1933, the Code broadly prohibits activities which violate the rules set forth by the Securities and Exchange Commission, the National Association of Securities Dealers, and other regulatory bodies. Some of the most common violations are:

  • Insider Trading
  • Failure to disclose information to investors, potential investors, or regulators
  • Making false statements in regulatory filings with an agency
  • Stock Brokers churning of client's accountants

Financial and Securities Fraud charges carry harsh punishments and large fines. Typically persons charged under these statutes have no prior record because they hold regulatory licenses. However, strict enforcement of these laws and a renewed public outcry will lead prosecutors to continue to seek increasingly harsher sentences.

In order to combat these charges, you need experienced and knowledgeable defense counsel at your side. At the Arnold Law Firm, our team of defense lawyers includes former prosecutors and public defenders who have handled theft related cases. Put that experience to work for you. Call to schedule a consultation today at .

The sections of the United States Code regarding securities and financial institutions are lengthy. Below are listed the index of those portions of the United States Code.

§ 77a. Short title

§ 77b. Definitions; promotion of efficiency, competition, and capital formation

§ 77b-1. Swap agreements

§ 77c. Classes of securities under this subchapter

§ 77d. Exempted transactions

§ 77e. Prohibitions relating to interstate commerce and the mails

§ 77f. Registration of securities

§ 77g. Information required in registration statement

§ 77h. Taking effect of registration statements and amendments thereto

§ 77h-1. Cease-and-desist proceedings

§ 77i. Court review of orders

§ 77j. Information required in prospectus

§ 77k. Civil liabilities on account of false registration statement

§ 77l. Civil liabilities arising in connection with prospectuses and communications

§ 77m. Limitation of actions

§ 77n. Contrary stipulations void

§ 77o. Liability of controlling persons

§ 77p. Additional remedies; limitation on remedies

§ 77q. Fraudulent interstate transactions

§ 77r. Exemption from State regulation of securities offerings

§ 77r-1. Preemption of State law

§ 77s. Special powers of Commission

§ 77t. Injunctions and prosecution of offenses

§ 77u. Hearings by Commission

§ 77v. Jurisdiction of offenses and suits

§ 77w. Unlawful representations

§ 77x. Penalties

§ 77y. Jurisdiction of other Government agencies over securities

§ 77z. Separability

§ 77z-1. Private securities litigation

§ 77z-2. Application of safe harbor for forward-looking statements

§ 77z-3. General exemptive authority

§ 77aa. Schedule of information required in registration statement

§ 77bb. "Corporation of Foreign Security Holders"; creation; principal office; branch offices

§ 77cc. Directors of Corporation; appointment, term of office, and removal

§ 77dd. Powers and duties of Corporation, generally

§ 77ee. Directors of Corporation, powers and duties generally

§ 77ff. Accounts and annual balance sheet of Corporation; audits

§ 77gg. Annual report by Corporation; printing and distribution

§ 77hh. Assessments by Corporation on holders of foreign securities

§ 77ii. Subscriptions accepted by Corporation as loans; repayment

§ 77jj. Loans to Corporation from Reconstruction Finance Corporation authorized

§ 77kk. Representations by Corporation as acting for Department of State or United States forbidden; interference with foreign negotiations forbidden

§ 77ll. Effective date of subchapter

§ 77mm. Short title

§ 77aaa. Short title

§ 77bbb. Necessity for regulation

§ 77ccc. Definitions

§ 77ddd. Exempted securities and transactions

§ 77eee. Securities required to be registered under Securities Act

§ 77fff. Securities not registered under Securities Act

§ 77ggg. Qualification of indentures covering securities not required to be registered

§ 77hhh. Integration of procedure with Securities Act and other Acts

§ 77iii. Effective time of qualification

§ 77jjj. Eligibility and disqualification of trustee

§ 77kkk. Preferential collection of claims against obligor

§ 77lll. Bondholders' lists

§ 77mmm. Reports by indenture trustee

§ 77nnn. Reports by obligor; evidence of compliance with indenture provisions

§ 77ooo. Duties and responsibility of the trustee

§ 77ppp. Directions and waivers by bondholders; prohibition of impairment of holder's right to payment; record date

§ 77qqq. Special powers of trustee; duties of paying agents

§ 77rrr. Effect of prescribed indenture provisions

§ 77sss. Rules, regulations, and orders

§ 77ttt. Hearings by Commission

§ 77uuu. Special powers of the Commission

§ 77vvv. Judicial review

§ 77www. Liability for misleading statements

§ 77xxx. Unlawful representations

§ 77yyy. Penalties

§ 77zzz. Effect on existing law

§ 77aaaa. Contrary stipulations void

§ 77bbbb. Separability

§ 78a. Short title

§ 78b. Necessity for regulation

§ 78c. Definitions and application

§ 78c-1. Swap agreements

§ 78d. Securities and Exchange Commission

§ 78d-1. Delegation of functions by Commission

§ 78d-2. Transfer of functions with respect to assignment of personnel to chairman

§ 78d-3. Appearance and practice before the Commission

§ 78e. Transactions on unregistered exchanges

§ 78f. National securities exchanges

§ 78g. Margin requirements

§ 78h. Restrictions on borrowing and lending by members, brokers, and dealers

§ 78i. Manipulation of security prices

§ 78j. Manipulative and deceptive devices

§ 78j-1. Audit requirements

§ 78k. Trading by members of exchanges, brokers, and dealers

§ 78k-1. National market system for securities; securities information processors

§ 78l. Registration requirements for securities

§ 78l-1. Applications for unlisted trading privileges deemed filed under section 78l of this


§ 78m. Periodical and other reports

§ 78n. Proxies

§ 78o. Registration and regulation of brokers and dealers

§ 78o-1. Brokers deemed to be registered

§ 78o-2. Liabilities arising prior to amendment unaffected

§ 78o-3. Registered securities associations

§ 78o-4. Municipal securities

§ 78o-5. Government securities brokers and dealers

§ 78o-6. Securities analysts and research reports

§ 78o-7. Registration of nationally recognized statistical rating organizations

§ 78p. Directors, officers, and principal stockholders

§ 78q. Records and reports

§ 78q-1. National system for clearance and settlement of securities transactions

§ 78q-2. Automated quotation systems for penny stocks

§ 78r. Liability for misleading statements

§ 78s. Registration, responsibilities, and oversight of self-regulatory organizations

§ 78t. Liability of controlling persons and persons who aid and abet violations

§ 78t-1. Liability to contemporaneous traders for insider trading

§ 78u. Investigations and actions

§ 78u-1. Civil penalties for insider trading

§ 78u-2. Civil remedies in administrative proceedings

§ 78u-3. Cease-and-desist proceedings

§ 78u-4. Private securities litigation

§ 78u-5. Application of safe harbor for forward-looking statements

§ 78v. Hearings by Commission

§ 78w. Rules, regulations, and orders; annual reports

§ 78x. Public availability of information

§ 78y. Court review of orders and rules

§ 78z. Unlawful representations

§ 78aa. Jurisdiction of offenses and suits

§ 78aa-1. Special provision relating to statute of limitations on private causes of action

§ 78bb. Effect on existing law

§ 78cc. Validity of contracts

§ 78dd. Foreign securities exchanges

§ 78dd-1. Prohibited foreign trade practices by issuers

§ 78dd-2. Prohibited foreign trade practices by domestic concerns

§ 78dd-3. Prohibited foreign trade practices by persons other than issuers or domestic concerns

§ 78ee. Transaction fees

§ 78ff. Penalties

§ 78gg. Separability

§ 78hh. Effective date

§ 78hh-1. Effective date of certain sections

§ 78ii. Omitted

§ 78jj. Repealed.

§ 78kk. Authorization of appropriations

§ 78ll. Requirements for the EDGAR system

§ 78mm. General exemptive authority

§ 78nn. Tennessee Valley Authority

§ 78aaa. Short title

§ 78bbb. Application of Securities Exchange Act of 1934

§ 78ccc. Securities Investor Protection Corporation

§ 78ddd. SIPC Fund

§ 78eee. Protection of customers

§ 78fff. General provisions of a liquidation proceeding

§ 78fff-1. Powers and duties of a trustee

§ 78fff-2. Special provisions of a liquidation proceeding

§ 78fff-3. SIPC advances

§ 78fff-4. Direct payment procedure

§ 78ggg. SEC functions

§ 78hhh. Examining authority functions

§ 78iii. Functions of self-regulatory organizations

§ 78jjj. Prohibited acts

§ 78kkk. Miscellaneous provisions

§ 78lll. Definitions

Statutes above are up to date from www.law.cornell.edu as of October 1, 2009

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Arnold Law Firm

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