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15 U.S.C. § 80b–17 — Penalties

submitted 86 years ago by ch. 686 to r/title-15-COMMERCE-AND-TRADE · 41 words · no verdicts yet

in plain englishAI-generated · not legal advice

Anyone who willfully violates this law, or a rule or order the SEC issued under it, faces criminal penalties. A conviction can bring a fine up to $10,000, up to five years in prison, or both.

This section sets a criminal penalty. If a person willfully violates this subchapter, or a rule, regulation, or order the Commission issued under it, and is convicted, the court can fine them up to $10,000, send them to prison for up to five years, or both.
the actual law source: uscode.house.gov ↗public domain

Any person who willfully violates any provision of this subchapter, or any rule, regulation, or order promulgated by the Commission under authority thereof, shall, upon conviction, be fined not more than $10,000, imprisoned for not more than five years, or both.

Source credit: (Aug. 22, 1940, ch. 686, title II, § 217, 54 Stat. 857; Pub. L. 86–750, § 15, Sept. 13, 1960, 74 Stat. 888; Pub. L. 94–29, § 27(f), June 4, 1975, 89 Stat. 163.)

history & why it existsrecord from the source credit
  • 1940Enacted · Act of Aug. 22, 1940, ch. 686 · 54 Stat. 857
  • 1960Amended · Pub. L. 86-750 · 74 Stat. 888
  • 1975Amended · Pub. L. 94-29 · 89 Stat. 163

A history note hasn’t been published yet. The record shows enactment by ch. 686 on 1940-08-22.

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