CITE

    15 USC Sec. 78aa                                            01/08/2008

EXPCITE

    TITLE 15 - COMMERCE AND TRADE
    CHAPTER 2B - SECURITIES EXCHANGES

HEAD

    Sec. 78aa. Jurisdiction of offenses and suits

STATUTE

      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 exclusive jurisdiction of
    violations of this chapter or the rules and regulations thereunder,
    and of all suits in equity and actions at law brought to enforce
    any liability or duty created by this chapter or the rules and
    regulations thereunder. Any criminal proceeding may be brought in
    the district wherein any act or transaction constituting the
    violation occurred. Any suit or action to enforce any liability or
    duty created by this chapter or rules and regulations thereunder,
    or to enjoin any violation of such chapter or rules and
    regulations, may be brought in any such district or in the district
    wherein the defendant is found or is an inhabitant or transacts
    business, and process in such cases may be served in any other
    district of which the defendant is an inhabitant 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 chapter brought by or
    against it in the Supreme Court or such other courts.

SOURCE

    (June 6, 1934, ch. 404, title I, Sec. 27, 48 Stat. 902; June 25,
    1936, ch. 804, 49 Stat. 1921; June 25, 1948, ch. 646, Sec. 32(b),
    62 Stat. 991; May 24, 1949, ch. 139, Sec. 127, 63 Stat. 107; Pub.
    L. 100-181, title III, Sec. 326, Dec. 4, 1987, 101 Stat. 1259.)

REFERENCES IN TEXT

      This chapter, referred to in text, was in the original "this
    title". See References in Text note set out under section 78a of
    this title.

CODIFICATION

      As originally enacted section contained references to the Supreme
    Court of the District of Columbia. Act June 25, 1936, substituted
    "the district court of the United States for the District of
    Columbia" for "the Supreme Court of the District of Columbia", and
    act June 25, 1948, as amended by act May 24, 1949, substituted
    "United States District Court for the District of Columbia" for
    "district court of the United States for the District of Columbia".
    Pub. L. 100-181 struck out reference to the United States District
    Court for the District of Columbia. Previously, such words had been
    editorially eliminated as superfluous in view of section 132(a) of
    Title 28, Judiciary and Judicial Procedure, which provides that
    "There shall be in each judicial district a district court which
    shall be a court of record known as the United States District
    Court for the district", and section 88 of Title 28 which provides
    that "the District of Columbia constitutes one judicial district".

AMENDMENTS

      1987 - Pub. L. 100-181 struck out ", the United States District
    Court for the District of Columbia," after "district courts of the
    United States" and substituted "sections 1254, 1291, 1292, and 1294
    of title 28" for "sections 128 and 240 of the Judicial Code, as
    amended (U.S.C., title 28, secs. 225 and 347)". See Codification
    note above.

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.