Delaware Code Title 6 Sec. 73-601 – Administrative remedies
(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; censure or reprimand; special reporting requirements; or other remedies which the Director determines to be in the public interest.
Terms Used In Delaware Code Title 6 Sec. 73-601
- Agent: means any individual, other than a broker-dealer, who represents a broker-dealer or issuer in effecting or attempting to effect purchases or sales of securities. See Delaware Code Title 6 Sec. 73-103
- Director: means the Investor Protection Director, the principal executive officer of the Investor Protection Unit designated in § 73-102 of this title. See Delaware Code Title 6 Sec. 73-103
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Fraud: Intentional deception resulting in injury to another.
- Person: means an individual, a corporation, a partnership, an association, a joint stock company, a trust where the interests of the beneficiaries are evidenced by a security, an unincorporated organization, a government, or a political subdivision of a government. See Delaware Code Title 6 Sec. 73-103
- Public interest: means that it shall appear to the Commissioner that the action taken or sanction imposed will further the purpose of this chapter. See Delaware Code Title 6 Sec. 73-103
- Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
(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 in an amount not to exceed $10,000 for each and every violation, plus the costs of investigation and prosecution.
(c) Whenever it appears that a person has violated or is about to violate this chapter 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 such an order shall be given notice of it as soon as practicable and may request a hearing before the Director, which hearing shall be scheduled 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.
78 Del. Laws, c. 175, §§ ?117, 118; 79 Del. Laws, c. 182, § ?3;