7 U.S.C. § 13a

Nonenforcement of rules of government or other violations; cease and desist orders; fines and penalties; imprisonment; misdemeanor; separate offenses

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If any registered entity is not enforcing or has not enforced its rules of government made a condition of its designation or registration as set forth in sections 7 through 7a–2 of this title, or if any registered entity, or any director, officer, agent, or employee of any registered entity otherwise is violating or has violated any of the provisions of this chapter or any of the rules, regulations, or orders of the Commission thereunder, the Commission may, upon notice and hearing on the record and subject to appeal as in other cases provided for in section 8(b) of this title, make and enter an order directing that such registered entity, director, officer, agent, or employee shall cease and desist from such violation, and assess a civil penalty of not more than $500,000 for each such violation, or, in any case of manipulation or attempted manipulation in violation of section 9, 15, 13b, or 13(a)(2) of this title, a civil penalty of not more than $1,000,000 for each such violation. If such registered entity, director, officer, agent, or employee, after the entry of such a cease and desist order and the lapse of the period allowed for appeal of such order or after the affirmance of such order, shall fail or refuse to obey or comply with such order, such registered entity, director, officer, agent, or employee shall be guilty of a misdemeanor and, upon conviction thereof, shall be fined not more than $500,000 or imprisoned for not less than six months nor more than one year, or both, except that if the failure or refusal to obey or comply with the order involved any offense under section 13(a)(2) of this title, the registered entity, director, officer, agent, or employee shall be guilty of a felony and, on conviction, shall be subject to penalties under section 13(a)(2) of this title. Each day during which such failure or refusal to obey such cease and desist order continues shall be deemed a separate offense. If the offending registered entity or other person upon whom such penalty is imposed, after the lapse of the period allowed for appeal or after the affirmance of such penalty, shall fail to pay such penalty, the Commission shall refer the matter to the Attorney General who shall recover such penalty by action in the appropriate United States district court. In determining the amount of the money penalty assessed under this section, the Commission shall consider the gravity of the offense, and in the case of a registered entity shall further consider whether the amount of the penalty will materially impair the ability of the registered entity to carry on its operations and duties.

Notes of Decisions

Cited in 48 cases (11 in the last 5 years), 1973–2025 · leading case: Merrill Lynch, Pierce, Fenner & Smith, Inc. v. Curran

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Merrill Lynch, Pierce, Fenner & Smith, Inc. v. Curran (1982) scotus · cites it 6× “See § 6b, 7 U. S. C. § 13a. But the statute specifies that fines may not exceed $100,000 per violation, ibid.”

Ricci v. Chicago Mercantile Exchange (1973) scotus · cites it 6× “" 7 U. S. C. § 13a (emphasis added). But although the relevant regulations provide a means by which a private party may report apparent violations see 17 CFR §§ 0.”

Steel Co. v. Citizens for a Better Environment (1998) scotus “, 7 U. S. C. § 13a1(d) ("In any action brought under this section, the Commission may seek and the court shall have jurisdiction to impose .”

Commodity Futures Trading Commission v. Jack W. Savage (1980) ca9 “7 U.S.C. § 13a — 1. The substantive content of the regulatory framework for commodity market professionals created in 1974 included a broad definition of the term “commodity trading advisor,” 1 registration and record- *274 keeping requirements, 2 and antifraud standards…”

Commodity Futures Trading Commission v. JBW Capital, LLC (2016) ca1 “Under 7 U.S.C. § 13a — 1(d)(3), the court may impose equitable remedies including restitution and disgorgement.”

National Super Spuds, Inc. v. New York Mercantile Exchange (1979) nysd · cites it 2× “7 U.S.C. § 13a. 21 . 7 U.S.C. §§ 9 , 13a.”

United States v. Polizzi (2008) nyed “§ 390 Failure to appear, testify, or produce documents when 1 month subpoenaed for contested election case before Congress 7 U.S.C. § 13a Disobeying cease and desist order by registered entity 6 months 7 U.”

Brian Monieson v. Commodity Futures Trading Commission (1993) ca7 “7 U.S.C. § 13a. When monetary penalties are levied, the Commission will also consider the defendant’s net worth.”

United States Commodity Futures Trading Commission v. Hunter Wise Commodities, LLC (2014) ca11 “7 U.S.C. § 13a — 1(b); Muller, 570 F.2d at 1300 .”

United States Commodity Futures Trading Commission v. Driver (2012) cacd “Because the Court finds that a penalty of three times Defendants’ gains would be greater than $130,000 or $140,000 per violation, see 7 U.S.C. § 13a — 1(d)(1); 17 C.F.R. § 143.”

Emil Lawrence v. Commodity Futures Trading Commission (1985) ca9 “” The phrase “weight of evidence” in 7 U.S.C. § 13a has been interpreted to mean “ ‘the preponderance’ or ‘greater weight of the evidence.”

Berman v. Bache, Halsey, Stuart, Shields, Inc. (1979) ohsd “§ 13a-l provides that the district court shall have jurisdiction of suits brought by the Commission or the Attorney General to restrain or enjoin violations of the Act.”

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