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Definition of 'Cease And Desist'
An order given by a government administrative agency or the courts to stop any suspicious or illegal activities. Falling under the Financial Institutions Regulator Act of 1978, a cease-and-desist order places an injunction on a company or person, prohibiting the activities that are deemed suspect.
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Investopedia explains 'Cease And Desist'
For corporations or financial institutions, a cease-and-desist order may be issued to prevent risky banking practices or the sale of fraudulent securities. After notification is given, a hearing is usually called to determine whether any wrongdoing has occurred, or if the action may continue. Failure to comply with a cease-and-desist order is punishable by the courts.
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