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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. § 77x Penalties us united_states_code code_section 15 COMMERCE AND TRADE 2A SECURITIES AND TRUST INDENTURES 77x 15 U.S.C. § 77x 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/s77x data/legal/raw/us/code/title-15/usc15.xml fe124b34c74e5091852d54088470ba67ae082eebee3f3119a2c193b939109198 6982338d990ef19d6b52bff6825089bdd6d0ee1233d9382673faf533decd5059 02ba741cea199838236ce2f4cd1247e3a29d380ee85ddadb98567ed9333581f1 2026-07-04 official
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15 U.S.C. § 77x - Penalties

Text

Any person who willfully violates any of the provisions of this subchapter, or the rules and regulations promulgated by the Commission under authority thereof, or any person who willfully, in a registration statement filed under this subchapter, 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.

(May 27, 1933, ch. 38, title I, § 24, 48 Stat. 87; Pub. L. 9429, § 27(a), June 4, 1975, 89 Stat. 163.)

Notes

Editorial Notes

Amendments1975—Pub. L. 9429 substituted “$10,000” for “$5,000”.

Statutory Notes and Related Subsidiaries

Effective Date of 1975 AmendmentAmendment by Pub. L. 9429 effective June 4, 1975, see section 31(a) of Pub. L. 9429, set out as a note under section 78b of this title.

Executive Documents

Transfer of Functions For transfer of functions of Securities and Exchange Commission, with certain exceptions, to Chairman of such Commission, see Reorg. Plan No. 10 of 1950, §§ 1, 2, eff. May 24, 1950, 15 F.R. 3175, 64 Stat. 1265, set out under section 78d of this title.