12 USC 4514 - Authority to require reports by regulated entities

U.S Code last checked for updates: Apr 27, 2024

§ 4514.

Authority to require reports by regulated entities

(a)

Regular and special reports

(1)

Regular reports

(2)

Special reports

(3)

Limitation

(4)

Notice and declaration

(b)

Capital distributions

(c)

Penalties for failure to make reports

(1)

Violations

It shall be a violation of this section for any regulated entity—

(A)

to fail to make, transmit, or publish any report or obtain any information required by the Director under this section, section 1723a(k) of this title, section 1456(c) of this title, or section 1440 of this title, within the period of time specified in such provision of law or otherwise by the Director; or

(B)

to submit or publish any false or misleading report or information under this section.

(2)

Penalties

(A)

First tier

(i)

In general

A violation described in paragraph (1) shall be subject to a penalty of not more than $2,000 for each day during which such violation continues, in any case in which—

(I)

the subject regulated entity maintains procedures reasonably adapted to avoid any inadvertent error and the violation was unintentional and a result of such an error; or

(II)

the violation was an inadvertent transmittal or publication of any report which was minimally late.

(ii)

Burden of proof

(B)

Second tier

(C)

Third tier

(3)

Assessments

(4)

Hearing

(Pub. L. 102–550, title XIII, § 1314, Oct. 28, 1992, 106 Stat. 3946; Pub. L. 110–289, div. A, title I, § 1104(a), July 30, 2008, 122 Stat. 2666.)

cite as: 12 USC 4514