15 USC 80b-9 - Enforcement of subchapter

U.S Code last checked for updates: Nov 22, 2024

§ 80b–9.

Enforcement of subchapter

(a)

Investigation

(b)

Administration of oaths and affirmations, subpena of witnesses, etc.

(c)

Jurisdiction of courts of United States

(d)

Action for injunction

(e)

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 violation of cease-and-desist order

(f)

Aiding and abetting

(Aug. 22, 1940, ch. 686, title II, § 209, 54 Stat. 853; Pub. L. 86–750, § 12, Sept. 13, 1960, 74 Stat. 887; Pub. L. 91–452, title II, § 216, Oct. 15, 1970, 84 Stat. 929; Pub. L. 100–181, title VII, § 704, Dec. 4, 1987, 101 Stat. 1264; Pub. L. 101–429, title IV, § 402, Oct. 15, 1990, 104 Stat. 949; Pub. L. 107–204, title III, § 308(d)(5), July 30, 2002, 116 Stat. 785; Pub. L. 111–203, title IX, §§ 923(a)(3), 929N, July 21, 2010, 124 Stat. 1849, 1862.)

cite as: 15 USC 80b-9