U.S Code last checked for updates: Nov 22, 2024
All TitlesTitle 15Chapter 2ASubchapter I
§ 77t.
Injunctions and prosecution of offenses
(a)
Investigation of violations
(b)
Action for injunction or criminal prosecution in district court
(c)
Writ of mandamus
(d)
Money penalties in civil actions
(1)
Authority of Commission
(2)
Amount of penalty
(A)
First tier
(B)
Second tier
(C)
Third tier
Notwithstanding subparagraphs (A) and (B), the amount of penalty for each such violation shall not exceed the greater of (i) $100,000 for a natural person or $500,000 for any other person, or (ii) the gross amount of pecuniary gain to such defendant as a result of the violation, if—
(I)
the violation described in paragraph (1) involved fraud, deceit, manipulation, or deliberate or reckless disregard of a regulatory requirement; and
(II)
such violation directly or indirectly resulted in substantial losses or created a significant risk of substantial losses to other persons.
(3)
Procedures for collection
(A)
Payment of penalty to Treasury
(B)
Collection of penalties
(C)
Remedy not exclusive
(D)
Jurisdiction and venue
(4)
Special provisions relating to a violation of a cease-and-desist order
(e)
Authority of court to prohibit persons from serving as officers and directors
(f)
Prohibition of attorneys’ fees paid from Commission disgorgement funds
(g)
Authority of a court to prohibit persons from participating in an offering of penny stock
(1)
In general
(2)
Definition
(May 27, 1933, ch. 38, title I, § 20, 48 Stat. 86; Pub. L. 100–181, title II, § 208, Dec. 4, 1987, 101 Stat. 1253; Pub. L. 101–429, title I, § 101, Oct. 15, 1990, 104 Stat. 932; Pub. L. 104–67, title I, § 103(b)(1), Dec. 22, 1995, 109 Stat. 756; Pub. L. 107–204, title III, §§ 305(a)(2), 308(d)(3), title VI, § 603(b), July 30, 2002, 116 Stat. 779, 785, 795; Pub. L. 111–203, title IX, § 923(a)(1), July 21, 2010, 124 Stat. 1849.)
cite as: 15 USC 77t
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