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Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
2026-07-06 10:51:44 -04:00

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LegalText 15 U.S.C. § 687g Penalties and forfeitures us united_states_code code_section 15 COMMERCE AND TRADE 14B SMALL BUSINESS INVESTMENT PROGRAM 687g 15 U.S.C. § 687g current 119-100 2026-06-26 official https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc15@119-100.zip /us/usc/t15/s687g data/legal/raw/us/code/title-15/usc15.xml dfd945c4d2fa4b0ace03fde69a42b44b3cc7a9bec6c12ba4bb3ac209ff5fe231 6982338d990ef19d6b52bff6825089bdd6d0ee1233d9382673faf533decd5059 a58e6c3824b6fd8a413ddceac51aa7991ba4a5b0c694cee827169c05afbd1294 2026-07-04 official
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15 U.S.C. § 687g - Penalties and forfeitures

Text

(a) Report violations Except as provided in subsection (b) of this section, a licensee which violates any regulation or written directive issued by the Administrator, requiring the filing of any regular or special report pursuant to section 687b(b) of this title, shall forfeit and pay to the United States a civil penalty of not more than $100 for each and every day of the continuance of the licensees failure to file such report, unless it is shown that such failure is due to reasonable cause and not due to willful neglect. The civil penalties provided for in this section shall accrue to the United States and may be recovered in a civil action brought by the Administration.

(b) Exemption from reporting requirements The Administration may by rules and regulations, or upon application of an interested party, at any time previous to such failure, by order, after notice and opportunity for hearing, exempt in whole or in part, any small business investment company from the provisions of subsection (a) of this section, upon such terms and conditions and for such period of time as it deems necessary and appropriate, if the Administration finds that such action is not inconsistent with the public interest or the protection of the Administration. The Administration may for the purposes of this section make any alternative requirements appropriate to the situation.

(Pub. L. 85699, title III, § 315, as added Pub. L. 89779, § 7, Nov. 6, 1966, 80 Stat. 1364.)