§ 80a-43. — Jurisdiction of offenses and suits.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 15USC80a-43]
TITLE 15--COMMERCE AND TRADE
CHAPTER 2D--INVESTMENT COMPANIES AND ADVISERS
SUBCHAPTER I--INVESTMENT COMPANIES
Sec. 80a-43. Jurisdiction of offenses and suits
The district courts of the United States and the United States
courts of any Territory or other place subject to the jurisdiction of
the United States shall have jurisdiction of violations of this
subchapter or the rules, regulations, or orders thereunder, and,
concurrently with State and Territorial courts, of all suits in equity
and actions at law brought to enforce any liability or duty created by,
or to enjoin any violation of, this subchapter or the rules,
regulations, or orders thereunder. Any criminal proceeding may be
brought in the district wherein any act or transaction constituting the
violation occurred. A criminal proceeding based upon a violation of
section 80a-33 of this title, or upon a failure to file a report or
other document required to be filed under this subchapter, may be
brought in the district wherein the defendant is an inhabitant or
maintains his principal office or place of business. Any suit or action
to enforce any liability or duty created by, or to enjoin any violation
of, this subchapter or rules, regulations, or orders thereunder, may be
brought in any such district or in the district wherein the defendant is
an inhabitant or transacts business, and process in such cases may be
served in any district of which the defendant is an inhabitant or
transacts business or wherever the defendant may be found. Judgments and
decrees so rendered shall be subject to review as provided in sections
1254, 1291, 1292, and 1294 of title 28. No costs shall be assessed for
or against the Commission in any proceeding under this subchapter
brought by or against the Commission in any court. The Commission may
intervene as a party in any action or suit to enforce any liability or
duty created by, or to enjoin any noncompliance with, section 80a-35(b)
of this title at any stage of such action or suit prior to final
judgment therein.
(Aug. 22, 1940, ch. 686, title I, Sec. 44, 54 Stat. 844; Pub. L. 91-547,
Sec. 22, Dec. 14, 1970, 84 Stat. 1430.)
Amendments
1970--Pub. L. 91-547 substituted reference to ``sections 1254, 1291,
1292, and 1294 of title 28'' for ``sections 225 and 347 of title 28 and
section 7, as amended, of the Act entitled `An Act to establish a court
of appeals for the District of Columbia, approved February 9, 1893' ''
and provided for Commission intervention as a party in any action or
suit to enforce any liability or duty created by, or to enjoin any
noncompliance with, section 80a-35(b) of this title at any stage of such
action or suit prior to final judgment therein, respectively.
Effective Date of 1970 Amendment
Amendment by Pub. L. 91-547 effective Dec. 14, 1970, see section 30
of Pub. L. 91-547, set out as a note under section 80a-52 of this title.
Transfer of Functions
For transfer of functions of Securities and Exchange Commission,
with certain exceptions, to Chairman of such Commission, see Reorg. Plan
No. 10 of 1950, Secs. 1, 2, eff. May 24, 1950, 15 F.R. 3175, 64 Stat.
1265, set out under section 78d of this title.
Section Referred to in Other Sections
This section is referred to in sections 80a-6, 80a-41, 80a-58 of
this title.
