What kind of power do the Securities Acts have?

The various securities administrations have many of the powers of the courts. They can investigate, undertake prosecutions for violations of the Acts, carry out hearings, and compel the attendance of witnesses. They can take evidence, seize documents, and freeze funds or securities. They cannot compel money to be paid back nor interfere in internal disputes of company shareholders.

However, they can suspend registrations and order trading in a security to cease. Sometimes, the regulator can prevent appointments to the boards of public companies. They can give public reprimands and levy fines. They can also recommend that a charge be laid in the criminal or civil courts.

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