United States Government Publishing Office publisher pbl distributor dst United States Government Accountability Office General Government Division author aut Government Organization text government publication eng GAOREPORTS Legislative Agency Publications gao legislative 2010-08-12 U.S. Government Printing Office 1998-11-02 monographic deposited born digital 44 p. GA 1.13:GGD-99-8 https://www.govinfo.gov/app/details/GAOREPORTS-GGD-99-8 P0b002ee1803875af f:gg99008 DGPO 2010-08-12 2011-03-28 GAOREPORTS-GGD-99-8 machine generated eng fdlp REPORT GAOREPORTS-GGD-99-8 GGD-99-8 Securities regulation Stock exchanges Self-regulatory organizations Securities fraud Commodity futures Fines (penalties) Letter Report GGD

The Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), and securities and futures self-regulatory organizations levy fines on firms and individuals that have violated securities and futures laws and regulations and self-regulatory organizations' rules. These organizations use fines to remedy current violations and deter future ones. This report discusses (1) the extent to which SEC, CFTC, and self-regulatory organizations collected fines, (2) the guidance they used to determine fine amounts, and (3) how SEC and CFTC assess the appropriateness of fines across their respective industries. https://www.govinfo.gov/content/pkg/GAOREPORTS-GGD-99-8/html/GAOREPORTS-GGD-99-8.htm https://www.govinfo.gov/content/pkg/GAOREPORTS-GGD-99-8/pdf/GAOREPORTS-GGD-99-8.pdf GAO/GGD-99-8 https://www.govinfo.gov/app/details/GAOREPORTS-GGD-99-8 Letter Report GAO/GGD-99-8; Money Penalties: Securities and Futures Regulators Collect Many Fines But Need to Better Use Industrywide Data; Securities regulation Stock exchanges Self-regulatory organizations Securities fraud Commodity futures Fines (penalties) Title 15 Section 78u 15 U.S.C. 78u Title 28 Section 2461 28 U.S.C. 2461