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Cease and Desist Order

   Also found in: Dictionary/thesaurus, Financial, Wikipedia 0.01 sec.

An order issued by an Administrative Agency or a court proscribing a person or a business entity from continuing a particular course of conduct.

The force and effect of a cease and desist order are similar to those of an Injunction issued by a court.


cease and desist order n. an order of a court or government agency to a person, business or organization to stop doing something upon a strong showing that the activity is harmful and/or contrary to law. The order may be permanent or hold until a final judicial determination of legality occurs. In many instances the activity is believed to cause irreparable damage such as receipt of funds illegally, felling of timber contrary to regulation, selling of shares of stock without a proper permit, or oil drilling which would damage the ecology.



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They assumed control of BAICO's affairs and will continue to manage operations, subject to the cease and desist order previously issued by CIMA on 29 June 2009.
Two months ago, the Colorado Division of Financial Services issued the credit union a cease and desist order, citing its "unsafe and unsound practices" and violation of "statutes, regulations and directives of the Division" and requiring it to develop a capital restoration and continuing profitability plan in order to keep operating.
The FDIC issued a cease and desist order for "unsafe" and "unsound" banking practices last year.
 
 
 
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