92 STAT. 2 7 0
PUBLIC LAW 95-283—MAY 21, 1978 (2) by striking out " h e " each place it appears and inserting "it" in lieu thereof. (b) Section 14(b) of such Act (15 U.S.C. 78jjj (b)), as redesignated by this Act, is amended— (1) by inserting "or for whom a direct payment procedure has been initiated" immediately after " Act " each place it a p p e a r s; and (2) in the subsection heading, by inserting "OR INITIATION OF DIRECT P A Y M E N T PROCEDURE" immediately after " T R U S T E E ".
(c) Section 14(c) of such Act (15 U.S.C. 7 8 ] ] ] (c)), as redesignated by this Act, is amended to read as follows: "(c)
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CONCEALMENT OP A S S E T S; F A I ^ E STATEMENTS OR C L A I M S. — " (1) SPECIFIC PROHIBITED ACTS.—Any person who, directly or
indirectly, in connection with or in contemplation of any liquidation proceeding or direct payment procedure— " (A) employs any device, scheme, or artifice to defraud; " (B) engages in any act, practice, or course of business which operates or would operate as a fraud or deceit upon any person; or " (C) fraudulently or with intent to defeat this Act— " (i) conceals or transfers any property belonging to the estate of a debtor; " ( i i) makes a false statement or account; " ( i i i) presents or uses any false claim for proof against the estate of a debtor; " ( i v) receives any material amount of property from a debtor; " (v) gives, offers, receives, transfers, or obtains any money or property, remuneration, compensation, reward, advantage, other consideration, or promise thereof, for acting or forebearing to a c t; " ( v i) conceals, destroys, mutilates, falsifies, makes a false entry in, or otherwise falsifies any document affecting or relating to the property or affairs of a debtor; or " ( v i i) withholds, from any person entitled to its possession, any document affecting or relating to the property or affairs of a debtor, shall be fined not more than $50,000 or imprisoned for not more than five years, or both. "(2)
FRAUDULENT CONVERSION.—Any person who, directly o r
indirectly steals, embezzles, o r fraudulently, or with intent to defeat this Act, abstracts or converts to his own use or to the use of another any of the moneys, securities, or other assets of S I P C, or otherwise defrauds or attempts to defraud S I P C or a trustee by any means, shall be fined not more than $50,000 o r imprisoned not more than five years, o r both.". LIABILITY, ADVERTISING, AND OTHER MISCELLANEOUS PROVISIONS
SEC. 14. (a) Section 15(d) of such Act (15 U.S.C. 7 8 k k k (d)), as redesignated by this Act, is amended— (1) by inserting ", officers, or employees" immediately after "Directors"; and (2) i n the subsection heading, by inserting ", OFFICERS, OR E M P L O Y E E S " immediately after "DIRECTORS".
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