87
STAT.]
PUBLIC LAW
93-11.0-SEPT.
21, 1973
'
353
TITLE II—FOREIGN CURRENCY REPORTS STATEMENT OF FINDINGS
SEC. 201. The Congress finds that— (1) movements of mobile capital can have a significant impact on the proper functioning of the international monetary system; (2) it is important to have as complete and current data as feasible on the nature and source of these capital flows, including transactions by large United States business enterprises and their foreign affiliates; (3) it is desirable to emphasize this objective by supplementing existing le^al authority for the collection of data on capital flows contamed in section 5(b) of the Emergency Banking Act of 1933 (12 U.S.C. 95a) and section 8 of the Bretton Woods Agreements Act of 1945 (22 U.S.C. 286f).
55 Stat. 839, 59 Stat, 5 1 5,
AUTHORITY TO PRESCRIBE REGULATIONS
SEC. 202. (a) The Secretary of the Treasury (hereafter referred to as the "Secretary") is authorized and directed, under the authority of this title and any other authority conferred by law, to supplement regulations requiring the submission of reports on foreign currency transactions consistent with the statement of findings under section 201. Regulations prescribed under this title shall require that such reports contain such information and be submitted in such manner and at such times, with reasonable exceptions and classifications, as may be necessary to carry out the policy of this title. (b) Reports required under this title shall cover foreign currency transactions conducted by any United States person and by any foreign person controlled by a United States person as such terms are defined in section 7(f)(2)(A) and 7 (f)(2)(C) of the Securities Exchange Act of 1934.
84 Stat, 1124. 15 USC 78g,
ENFORCEMENT
SEC. 203. (a) Whoever fails to submit a report required under any rule or regulation issued under this title may be assessed a civil penalty not exceeding $10,000 in a proceeding brought under subsection (b) of this section. (b) Whenever it appears to the Secretary that any person has failed to submit a report required under any rule or regulation issued under this title or has violated any rule or regulation issued hereunder, the Secretary may in his discretion bring an action, in the proper district court of the United States or the proper United States court of any territory or other place subject to the jurisdiction of the United States, seeking a mandatory injunction commanding such person to comply with such rule or regulation, and upon a proper showing a permanent or temporary injunction or restraining order shall be granted without bond, and additionally the sanction provided for failure to submit a report under subsection (a). Approved September 21, 1973.
22-150 O - 75 - 25
Penalty.
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