Sec. 3. Penalties for recidivists

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Section 8A(g)(2) of the Securities Act of 1933 (15 U.S.C. 77h–1(g)(2)) is amended by adding at the end the following: Notwithstanding subparagraphs (A), (B), and (C), the maximum amount of penalty for each such act or omission shall be 3 times the otherwise applicable amount in such subparagraphs if, within the 5-year period preceding such act or omission, the person who committed the act or omission was criminally convicted for securities fraud or became subject to a judgment or order imposing monetary, equitable, or administrative relief in any Commission action alleging fraud by that person. .

Section 20(d)(2) of the Securities Act of 1933 ( 15 U.S.C. 77t(d)(2) ) is amended by adding at the end the following: Notwithstanding subparagraphs (A), (B), and (C), the maximum amount of penalty for each such violation shall be 3 times the otherwise applicable amount in such subparagraphs if, within the 5-year period preceding such violation, the defendant was criminally convicted for securities fraud or became subject to a judgment or order imposing monetary, equitable, or administrative relief in any Commission action alleging fraud by that defendant. .

Section 21(d)(3)(B) of the Securities Exchange Act of 1934 ( 15 U.S.C. 78u(d)(3)(B) ) is amended by adding at the end the following: Notwithstanding clauses (i), (ii), and (iii), the maximum amount of penalty for each such violation shall be 3 times the otherwise applicable amount in such clauses if, within the 5-year period preceding such violation, the defendant was criminally convicted for securities fraud or became subject to a judgment or order imposing monetary, equitable, or administrative relief in any Commission action alleging fraud by that defendant. .

Section 21B(b) of the Securities Exchange Act of 1934 ( 15 U.S.C. 78u–2(b) ) is amended by adding at the end the following: Notwithstanding paragraphs (1), (2), and (3), the maximum amount of penalty for each such act or omission shall be 3 times the otherwise applicable amount in such paragraphs if, within the 5-year period preceding such act or omission, the person who committed the act or omission was criminally convicted for securities fraud or became subject to a judgment or order imposing monetary, equitable, or administrative relief in any Commission action alleging fraud by that person. .

Section 9(d)(2) of the Investment Company Act of 1940 ( 15 U.S.C. 80a–9(d)(2) ) is amended by adding at the end the following: Notwithstanding subparagraphs (A), (B), and (C), the maximum amount of penalty for each such act or omission shall be 3 times the otherwise applicable amount in such subparagraphs if, within the 5-year period preceding such act or omission, the person who committed the act or omission was criminally convicted for securities fraud or became subject to a judgment or order imposing monetary, equitable, or administrative relief in any Commission action alleging fraud by that person. .

Section 42(e)(2) of the Investment Company Act of 1940 ( 15 U.S.C. 80a–41(e)(2) ) is amended by adding at the end the following: Notwithstanding subparagraphs (A), (B), and (C), the maximum amount of penalty for each such violation shall be 3 times the otherwise applicable amount in such subparagraphs if, within the 5-year period preceding such violation, the defendant was criminally convicted for securities fraud or became subject to a judgment or order imposing monetary, equitable, or administrative relief in any Commission action alleging fraud by that defendant. .

The Investment Advisers Act of 1940 (15 U.S.C. 80b–1 et seq.) is amended— in section 203(i)(2) ( 15 U.S.C. 80b–3(i)(2) ), by adding at the end the following: Notwithstanding subparagraphs (A), (B), and (C), the maximum amount of penalty for each such act or omission shall be 3 times the otherwise applicable amount in such subparagraphs if, within the 5-year period preceding such act or omission, the person who committed the act or omission was criminally convicted for securities fraud or became subject to a judgment or order imposing monetary, equitable, or administrative relief in any Commission action alleging fraud by that person. ; and in section 209(e)(2) ( 15 U.S.C. 80b–9(e)(2) ) by adding at the end the following:

Notwithstanding subparagraphs (A), (B), and (C), the maximum amount of penalty for each such violation shall be 3 times the otherwise applicable amount in such subparagraphs if, within the 5-year period preceding such violation, the defendant was criminally convicted for securities fraud or became subject to a judgment or order imposing monetary, equitable, or administrative relief in any Commission action alleging fraud by that defendant. .

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U.S. Code

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15 USC 77h–1(g)(2)
15 USC 78u–2(b)
15 USC 80a–9(d)(2)
15 USC 80a–41(e)(2)
15 USC 80b–1
15 USC 80b–3(i)(2)
15 USC 80b–9(e)(2)

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cites case law

Sec. 3

Penalties for recidivists

U.S.C.§ 77t

U.S.C.§ 78u

Cite15 USC 77h–1(g)(2)

Cite15 USC 78u–2(b)

Cite15 USC 80a–9(d)(2)

Cite15 USC 80a–41(e)(2)

Cite15 USC 80b–1

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