15 USC § 77yyy - Penalties

---
identifier: "/us/usc/t15/s77yyy"
source: "usc"
legal_status: "official_prima_facie"
title: "15 USC § 77yyy - Penalties"
title_number: 15
title_name: "COMMERCE AND TRADE"
section_number: "77yyy"
section_name: "Penalties"
chapter_number: 2
chapter_name: "SECURITIES AND TRUST INDENTURES"
subchapter_number: "III"
subchapter_name: "TRUST INDENTURES"
positive_law: false
currency: "119-84"
last_updated: "2026-04-17"
format_version: "1.1.0"
generator: "[email protected]"
source_credit: "(May 27, 1933, ch. 38, title III, § 325, as added Aug. 3, 1939, ch. 411, 53 Stat. 1177; amended Pub. L. 94–29, § 27(d), June 4, 1975, 89 Stat. 163.)"
---


# § 77yyy. Penalties

Any person who willfully violates any provision of this subchapter or any rule, regulation, or order thereunder, or any person who willfully, in any application, report, or document filed or required to be filed under the provisions of this subchapter or any rule, regulation, or order thereunder, 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.

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**Source Credit**: (May 27, 1933, ch. 38, title III, § 325, as added Aug. 3, 1939, ch. 411, 53 Stat. 1177; amended Pub. L. 94–29, § 27(d), June 4, 1975, 89 Stat. 163.)

## Editorial Notes

### Amendments

1975— substituted “$10,000” for “$5,000”.

## Statutory Notes and Related Subsidiaries

### Effective Date of 1975 Amendment

Amendment by  effective , see , set out as a note under .