18 1 an aggregate amount exceeding $10,000 in any one calendar. 2 year shall file a report or reports in accordance with sub 3 section (b) of this section. 4 (b) Reports required under this section shall be filed at 5 such times and places, and contain such of the following in 6 formation, in such form and in such detail, as the Secretary 7 8 may require: (1) The legal capacity in which the person filing the 9 report is acting with respect to the monetary instruments 10 transported. 11 12 tion. 13 15 (2) The origin, destination, and route of the transporta (3) Where the monetary instruments are not legally 14 and beneficially owned by the person transporting the same, or is transported for any purpose other than the use in his own behalf of the person transporting the same, the identities of the person from whom the monetary instruments are received, or to whom they are to be delivered, or both. 16 18 (4) The amounts and types of monetary instruments transported. (c) Subsection (a) does not apply to any common carrier of passengers in respect of monetary instruments in the possession of its passengers, nor to any common carrier of goods in respect of shipments of monetary instruments not declared to be such by the shipper. 19 1 § 232. Forfeiture 2 (a) Any monetary instruments which are in the process 3 of any transportation with respect to which any report 4 required to be filed under section 231 (1) either has not 5 been filed or contains material omissions or misstatements 6 7 are subject to seizure and forfeiture to the United States. (b) For the purpose of this section, monetary instru8 ments transported by mail, by any common carrier, or by 9 any messenger or bailee, are in process of transportation. 10 from the time they are delivered into the possession of the 11 postal service, common carrier, messenger, or bailee until 12 the time they are delivered into or retained in the possession 13 of the addressee or intended recipient or any agent of the addressee or intended recipient for purposes other than further transportation within, or across any border of, the United States. 17 § 233. Civil liability The Secretary may assess a civil penalty upon any person who fails to file any report required under section 231, or who files such a report containing any material omission or misstatement. The amount of the penalty shall not exceed the amount of the monetary instruments with respect to whose transportation the report was required to be filed. The liabilities imposed by this chapter are in addition to any other liabilities, civil or criminal, except that the liability under this 1 22 purpose of preventing the excessive use of credit for the pur2 chase or carrying of securities, the Board of Governors of the 3 Federal Reserve System shall from time to time prescribe 4 rules and regulations in accordance with this section. These 5 rules and regulations shall apply with respect to the amount 6 of credit (regardless of who or where the lender may be) 7 that any person may initially obtain and subsequently retain 8 on any security (other than exempted security), and to the 9 amount of credit (regardless of who or where the borrower may be) that any person may initially extend and subse11 quently maintain on any security (other than an exempted 12 security). It shall be unlawful for any person knowingly to 13 obtain or retain credit in any amount in violation of any rule or regulation under this section, and it shall be unlawful for any person, whether or not knowingly, to obtain or retain 16 credit in an aggregate amount exceeding $1,000,000 at any 17 one time in violation of any rule or regulation under this 18 section." 10 14 15 19 (b) The amendment made by subsection (a) of this 20 section does not affect the continuing validity of any rule 21 2220 or regulation under section 7 of the Securities Exchange Act of 1934 in effect prior to the effective date of the amendment. 23 1 TITLE IV-SECURITIES TRANSACTIONS INVOLV 2 ING FOREIGN FINANCIAL AGENCIES 3 § 401. Information required to be furnished to the Securi 4 5 6 ties and Exchange Commission The Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) is amended (1) by redesignating sections 31, 32, 7 33, and 34 as 32, 33, 34, and 35, respectively, and (2) 8 by inserting the following new section immediately after 9 section 30: 10 11 12 "SECURITIES TRANSACTIONS INVOLVING FOREIGN FINANCIAL AGENCIES "SEC. 31. (a) No person engaged in the business of 13 effecting transactions in securities for the accounts of others, 14 15 or buying and selling securities for his own account through a broker or otherwise, shall make use of any means or 16 instrumentality of interstate commerce or of the mails, or 17 of any facility of any national securities exchange, to execute 18 or cause to be executed, or to effect or cause to be effected, 19 directly or indirectly, any transaction in any domestic secu20 rity, if such transaction was initiated by a foreign financial 21 agency (as defined in section 203 (h) of the Currency and 8 22 1 purpose of preventing the excessive use of credit for the pur2 chase or carrying of securities, the Board of Governors of the 3 Federal Reserve System shall from time to time prescribe 4 rules and regulations in accordance with this section. These 5 rules and regulations shall apply with respect to the amount 6 of credit (regardless of who or where the lender may be) 7 that any person may initially obtain and subsequently retain on any security (other than exempted security), and to the 9 amount of credit (regardless of who or where the borrower 10 may be) that any person may initially extend and subse11 quently maintain on any security (other than an exempted 12 security). It shall be unlawful for any person knowingly to 13 obtain or retain credit in any amount in violation of any rule 14 or regulation under this section, and it shall be unlawful for any person, whether or not knowingly, to obtain or retain 16 credit in an aggregate amount exceeding $1,000,000 at any one time in violation of any rule or regulation under this 18 section." 15 17 19 (b) The amendinent made by subsection (a) of this 20 section does not affect the continuing validity of any rule 220 21 or regulation under section 7 of the Securities Exchange Act 22 of 1934 in effect prior to the effective date of the amendment. |