§ 78ff. Penalties
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/usc/title-15/section-78ffA research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Willful violations; false and misleading statements Any person who willfully violates any provision of this chapter (other than section 78dd–1 of this title), or any rule or regulation thereunder the violation of which is made unlawful or the observance of which is required under the terms of this chapter, or any person who willfully and knowingly makes, or causes to be made, any statement in any application, report, or document required to be filed under this chapter or any rule or regulation thereunder or any undertaking contained in a registration statement as provided in subsection
(d)of section 78o of this title, or by any self-regulatory organization in connection with an application for membership or participation therein or to become associated with a member thereof which statement was false or misleading with respect to any material fact, shall upon conviction be fined not more than $5,000,000, or imprisoned not more than 20 years, or both, except that when such person is a person other than a natural person, a fine not exceeding $25,000,000 may be imposed; but no person shall be subject to imprisonment under this section for the violation of any rule or regulation if he proves that he had no knowledge of such rule or regulation.
(b)Failure to file information, documents, or reports Any issuer which fails to file information, documents, or reports required to be filed under subsection
(d)of section 78o of this title or any rule or regulation thereunder shall forfeit to the United States the sum of $100 for each and every day such failure to file shall continue. Such forfeiture, which shall be in lieu of any criminal penalty for such failure to file which might be deemed to arise under subsection
(a)of this section, shall be payable into the Treasury of the United States and shall be recoverable in a civil suit in the name of the United States.
(c)Violations by issuers, officers, directors, stockholders, employees, or agents of issuers
(A)Any issuer that violates subsection
(a)or
(g)of section 78dd–1 of this title shall be fined not more than $2,000,000.
(B)Any issuer that violates subsection
(a)or
(g)of section 78dd–1 of this title shall be subject to a civil penalty of not more than $10,000 imposed in an action brought by the Commission.
(A)Any officer, director, employee, or agent of an issuer, or stockholder acting on behalf of such issuer, who willfully violates subsection
(a)or
(g)of section 78dd–1 of this title shall be fined not more than $100,000, or imprisoned not more than 5 years, or both.
(B)Any officer, director, employee, or agent of an issuer, or stockholder acting on behalf of such issuer, who violates subsection
(a)or
(g)of section 78dd–1 of this title shall be subject to a civil penalty of not more than $10,000 imposed in an action brought by the Commission.
(3)Whenever a fine is imposed under paragraph
(2)upon any officer, director, employee, agent, or stockholder of an issuer, such fine may not be paid, directly or indirectly, by such issuer.
(June 6, 1934, ch. 404, title I, § 32, 48 Stat. 904; May 27, 1936, ch. 462, § 9, 49 Stat. 1380; June 25, 1938, ch. 677, § 4, 52 Stat. 1076; Pub. L. 88–467, § 11, Aug. 20, 1964, 78 Stat. 580; Pub. L. 94–29, §§ 23, 27(b), June 4, 1975, 89 Stat. 162, 163; Pub. L. 95–213, title I, § 103(b), Dec. 19, 1977, 91 Stat. 1496; Pub. L. 98–376, § 3, Aug. 10, 1984, 98 Stat. 1265; Pub. L. 100–418, title V, § 5003(b), Aug. 23, 1988, 102 Stat. 1419; Pub. L. 100–704, § 4, Nov. 19, 1988, 102 Stat. 4680; Pub. L. 105–366, § 2(d), Nov. 10, 1998, 112 Stat. 3303; Pub. L. 107–204, title XI, § 1106, July 30, 2002, 116 Stat. 810.)
Connections117 cite this · traces to 4
Cited by 117 sections · top 56
statutes-at-large
- Public Law 88–467
- Public Law 720
- Public Law 719
- Public Law 107–204To protect investors by improving the accuracy and reliability of corporate disclosures made pursuant to the securities laws, and for other purposes
- Public Law 100–418To enhance the competitiveness of American industry, and for other purposes
- Public Law 95–213To amend the Securities Exchange Act of 1934 to make it unlawful for an issuer of securities registered pursuant to section 12 of such Act or an issuer required to file reports pursuant to section 15(d) of such Act to make certain payments to foreign officials and other foreign persons, to require s
- Public Law 98–376To amend the Securities Exchange Act of 1934 to increase the sanctions against trading in securities while in possession of material nonpublic information
- Public Law 94–29To amend the Securities Exchange Act of 1934 to remove barriers to competition, to foster the development of a national securities market system and a national clearance and settlement system, to make uniform the Securities and Exchange Commission’s authority over self-regulatory organizations, to p
- Public Law 100–704To improve the procedures and remedies for the prevention of insider trading, and for other purposes
- Public Law 111–203To promote the financial stability of the United States by improving accountability and transparency in the financial system, to end “too big to fail”, to protect the American taxpayer by ending bailouts, to protect consumers from abusive financial services practices, and for other purposes
- Public Law 105–366To amend the Securities Exchange Act of 1934 and the Foreign Corrupt Practices Act of 1977 to improve the competitiveness of American business and promote foreign commerce, and for other purposes
register
- NoticesNotice of annual inflation adjustment of civil monetary penalties
- Proposed RulesNotice of proposed amendments to sentencing guidelines, policy statements, and commentary
- NoticesNotice
- NoticesNotice of annual inflation adjustment of civil monetary penalties
- Proposed RulesFinal rule
- Presidential DocumentsFinal rules
- Rules and RegulationsInterim final temporary rule; Request for comments
- Proposed RulesProposed rule
- Rules and RegulationsNotice of submission to Congress of amendments to the sentencing guidelines, effective November 1, 2002
- NoticesNotice of (A) proposed temporary, emergency amendments to sentencing guidelines, policy statements, and commentary; (B) proposed permanent, non-emergency amendments to sentencing guidelines, policy statements, and commentary
- Presidential DocumentsNotice of: (A) promulgation of temporary, emergency amendments, effective May 1, 2001, for (1) offenses involving the manufacture, importation, exportation, or trafficking of “Ecstasy”; (2) offenses involving the manufacture, importation, or trafficking of amphetamine; (3) offenses involving the trafficking of certain List I chemicals that are used in the manufacture of methamphetamine; and (4) offenses involving peonage and human trafficking; and (B) submission to Congress of additional non-emergency amendments to the sentencing guidelines, effective November 1, 2001
- NoticesFinal rule
- NoticesNotice of annual inflation adjustment of civil monetary penalties
- Rules and RegulationsFinal rule
- NoticesFinal rule
- NoticesNotice of annual inflation adjustment of civil monetary penalties
- Rules and RegulationsFinal rule
- NoticesNotice of annual inflation adjustment of civil monetary penalties
- NoticesProposed rules
- Rules and RegulationsFinal rule
- NoticesFinal rule
- Proposed RulesProposed rule
- Proposed RulesProposed rule; interim guidance regarding filing procedures
- NoticesInterim final rule; request for comment
- Rules and RegulationsFinal rule
- NoticesProposed rule
- Rules and RegulationsProposed rule
- NoticesFinal rule and form; final rule amendment; technical amendment
- NoticesAnnual inflation adjustment of civil monetary penalties
- NoticesFinal rule
- NoticesNotice of annual inflation adjustment of civil monetary penalties
- Rules and RegulationsFinal rule
- NoticesProposed rule; proposed interpretation
U.S. Code
bill
- Sec. 4Enhanced penalties for violations of Securities Act of 1934
- Sec. 1Statute of limitations for Commission actions
- Sec. 804Update of certain other penalties
- Sec. 804Update of certain other penalties
- Sec. 214Update of certain other penalties
- Sec. 214Update of certain other penalties
- Sec. 214Update of certain other penalties
- Sec. 5Market access charge
- Sec. 2Determination of the number of violations
- Sec. 2Determination of the number of violations
Traces to 4 documents
36 references not yet in our index
- June 6, 1934, ch. 404
- 48 Stat. 904
- May 27, 1936, ch. 462, § 9
- 49 Stat. 1380
- June 25, 1938, ch. 677, § 4
- 52 Stat. 1076
- Pub. L. 88–467, § 11
- 78 Stat. 580
- Pub. L. 94–29
- 89 Stat. 162
- Pub. L. 95–213, title I, § 103(b)
- 91 Stat. 1496
- Pub. L. 98–376, § 3
- 98 Stat. 1265
- Pub. L. 100–418, title V, § 5003(b)
- 102 Stat. 1419
- Pub. L. 100–704, § 4
- 102 Stat. 4680
- Pub. L. 105–366, § 2(d)
- 112 Stat. 3303
- Pub. L. 107–204, title XI, § 1106
- 116 Stat. 810
- Pub. L. 107–204
- Pub. L. 105–366, § 2(d)(1)
- Pub. L. 105–366, § 2(d)(3)
- Pub. L. 100–704
- Pub. L. 100–418
- Pub. L. 98–376
- Pub. L. 95–213, § 103(b)(1)
- Pub. L. 95–213, § 103(b)(2)
- Pub. L. 94–29, § 23(2)
- Pub. L. 88–467
- section 9 of Pub. L. 100–704
- section 7 of Pub. L. 98–376
- section 31(a) of Pub. L. 94–29
- section 13 of Pub. L. 88–467
Citation graph
cites case law
§ 78ff
Penalties
Fed. Reg.×87
Stat.×14
Bills×12
C.F.R.×3
U.S.C.×1
ActJune 6, 1934, ch. 404
Stat.48 Stat. 904
ActMay 27, 1936, ch. 462, § 9
Stat.49 Stat. 1380
ActJune 25, 1938, ch. 677, § 4
Cites 40 · showing 9Cited by 117 across 5 sources