Title 15 — Commerce and TradeRelease 119-73not60
§77x Penalties
Title 15 › Chapter 2A— SECURITIES AND TRUST INDENTURES › Subchapter I— DOMESTIC SECURITIES › § 77x
Summary
If someone on purpose breaks any rule under this part, or on purpose lies or leaves out important facts in a required registration filing, then if found guilty they can be fined up to $10,000, put in jail for up to five years, or both.
Full Legal Text
Title 15, §77x
Commerce and Trade — Source: USLM XML via OLRC
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.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
Amendments
1975—Pub. L. 94–29 substituted “$10,000” for “$5,000”.
Statutory Notes and Related Subsidiaries
Effective Date
of 1975 AmendmentAmendment by Pub. L. 94–29 effective June 4, 1975, see section 31(a) of Pub. L. 94–29, 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.
Reference
Citations & Metadata
Citation
15 U.S.C. § 77x
Title 15 — Commerce and Trade
Last Updated
Apr 3, 2026
Release point: 119-73not60