What is CEASE AND DESIST?

1. In law it is an order to prohibit starting or continuing a specific action stated in the order. Used against a person or an enterprise; usually issued by a court or a government agency. 2. In finance it is an order to stop starting or continuing activities that may not be legal. Begun with the implementation of the Financial Institutions Regulator Act of 1978, this order is issued by a court or government agency. The order is meant to allow parties an opportunity to be heard during a hearing. Often, it is used to prevent practice of risky banking procedures.

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