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Massive increase in penalties for securities fraud and financial market violations.

This act drastically increases the financial penalties imposed on individuals and companies violating securities laws, particularly in cases involving fraud and manipulation. This aims to create a stronger deterrent against financial misconduct, thereby better protecting citizens' savings and investments. Repeat offenders will face penalties three times higher than standard fines, and continuous non-compliance with court orders will result in daily separate offenses.
Key points
Maximum civil penalties for severe financial fraud (Third Tier) increase significantly, up to $1 million for individuals and $10 million for corporations, or three times the gain/victim loss.
A new Fourth Tier penalty is established: repeat offenders convicted of securities fraud within five years will face fines three times the standard applicable amount.
Enforcement of court injunctions and regulatory bars is strengthened, treating each day of continuous non-compliance as a separate violation.
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Expired
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Additional Information
Print number: 118_HR_9451
Sponsor: Rep. Porter, Katie [D-CA-47]
Process start date: 2024-09-03
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-09-2025
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Stronger Enforcement of Civil Penalties Act of 2024

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_9451.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2024-09-03.

What are the main provisions?

Key points include:

  • Maximum civil penalties for severe financial fraud (Third Tier) increase significantly, up to $1 million for individuals and $10 million for corporations, or three times the gain/victim loss.
  • A new Fourth Tier penalty is established: repeat offenders convicted of securities fraud within five years will face fines three times the standard applicable amount.
  • Enforcement of court injunctions and regulatory bars is strengthened, treating each day of continuous non-compliance as a separate violation.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Porter, Katie [D-CA-47].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

CATEGORIES

Economy Courts and Law