CITE

    15 USC Sec. 77x                                             01/05/2009

EXPCITE

    TITLE 15 - COMMERCE AND TRADE
    CHAPTER 2A - SECURITIES AND TRUST INDENTURES
    SUBCHAPTER I - DOMESTIC SECURITIES

HEAD

    Sec. 77x. Penalties

STATUTE

      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.

SOURCE

    (May 27, 1933, ch. 38, title I, Sec. 24, 48 Stat. 87; Pub. L. 94-
    29, Sec. 27(a), June 4, 1975, 89 Stat. 163.)

AMENDMENTS

      1975 - Pub. L. 94-29 substituted "$10,000" for "$5,000".
                     EFFECTIVE DATE OF 1975 AMENDMENT
      Amendment 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.

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, Secs. 1, 2, eff. May 24, 1950, 15 F.R. 3175,
    64 Stat. 1265, set out under section 78d of this title.