Mr. Tom O'Malley:

One is talking about a situation where both an officer, broadly construed, could be prosecuted as well as the company itself. One does not exclude the other. We have a situation in many statutes where individuals can be prosecuted in addition to the companies to which they belong. Our recommendations would essentially clarify that by putting into law quite clearly that it is quite possible for agents, for senior managers of a company, to be held personally liable in addition to the company itself.