Which of the following statements is true of the Securities Enforcement Remedies Act?

A An individual found to have violated the securities laws may be prohibited by the court from serving as an officer or director of a business organization

B Civil fines of up to $700,000 per organization and $500,000 per individual may be imposed and collected by the courts

C It changes membership requirements of corporate audit committees

D It requires proof of criminal violation for individual and organizational fines to be imposed

E It refrains from imposing liability on a theory of fraud on any person who shall make or cause to be made any false or misleading statements.