15 U.S.C. § 77yyy — Penalties
submitted 93 years ago by ch. 38 to r/title-15-COMMERCE-AND-TRADE · 94 words · no verdicts yet
Willfully violating this law or lying in a required SEC filing is a crime. A conviction can bring a fine up to $10,000, up to five years in prison, or both.
Anyone who willfully violates this subchapter, or a rule, regulation, or order made under it, commits a crime. So does anyone who willfully includes an untrue statement of a material fact — or willfully leaves out a material fact that's required or needed to avoid being misleading — in any application, report, or document that is filed, or required to be filed, under this subchapter or its rules. A conviction can bring a fine of up to $10,000, imprisonment of up to five years, or both.
Any person who willfully violates any provision of this subchapter or any rule, regulation, or order thereunder, or any person who willfully, in any application, report, or document filed or required to be filed under the provisions of this subchapter or any rule, regulation, or order thereunder, makes any untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading, shall upon conviction be fined not more than $10,000 or imprisoned not more than five years, or both.
Source credit: (May 27, 1933, ch. 38, title III, § 325, as added Aug. 3, 1939, ch. 411, 53 Stat. 1177; amended Pub. L. 94–29, § 27(d), June 4, 1975, 89 Stat. 163.)
- 1933Enacted · Act of May 27, 1933, ch. 38 · 53 Stat. 1177
- 1975Amended · Pub. L. 94-29 · 89 Stat. 163
A history note hasn’t been published yet. The record shows enactment by ch. 38 on 1933-05-27.
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