President Obama legislation improving enforcement of securities fraud and financial institution fraud involving asset-backed securities and fraud related to federal assistance and relief programs. The legislation expands the scope of securities fraud provisions and extends the prohibition against defrauding the federal government to the Troubled Asset Relief Program and to the stimulus bill. The measure also authorizes additional appropriations for the SEC to investigate and prosecute fraud, and creates a Select Committee to examine the causes of the current financial crisis.

The Fraud Enforcement and Recovery Act was based on a sense of Congress that fraud contibuted to an unprecedented collapse in the mortgage-backed securities market. A main component of the reform is the reinvigoration of federal anti-fraud measures. FERA makes a number of important improvements to fraud and money laundering statutes to strengthen prosecutors’ ability to combat the growing wave of fraud.

If you have questions regarding the handling of your brokerage account, The White Law Group can help. To speak to a securities attorney, please call our Chicago Office at 312-238-9650 for a free consultation.

The White Law Group, LLC is a national securities fraud, securities arbitration, investors protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Boca Raton, Florida.

To learn more about The White Law Group, visit http://whitesecuritieslaw.com.