Title 15, Commerce and TradeRelease 119-102
§80b–17 Penalties
Title 15 › CHAPTER 2D — INVESTMENT COMPANIES AND ADVISERS › SUBCHAPTER II — INVESTMENT ADVISERS › § 80b–17
Summary
If someone is found guilty of on-purpose breaking any rule in this part or any rule the Commission made under it, a court can fine them up to $10,000, send them to jail for up to five years, or both.
Full Legal Text
Title 15, §80b–17
Commerce and Trade, Source: USLM XML via OLRC
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.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
Amendments
1975—Pub. L. 94–29 substituted “imprisoned for not more than five years” for “imprisoned for not more than two years”. 1960—Pub. L. 86–750 inserted “, or any rule, regulation or order promulgated by the Commission under authority thereof,”.
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.
Reference
Citations & Metadata
Citation
15 U.S.C. § 80b–17
Title 15, Commerce and Trade
Last Updated
Aug 21, 2026
Release point: 119-102