15 USC 78jjj - Prohibited acts

U.S Code last checked for updates: Sep 29, 2025

§ 78jjj.

Prohibited acts

(a)

Failure to pay assessment, etc.

(b)

Engaging in business after appointment of trustee or initiation of direct payment procedure

(c)

Concealment of assets; false statements or claims

(1)

Specific prohibited acts

(A)

employs any device, scheme, or artifice to defraud;

(B)

engages in any act, practice, or course of business which operates or would operate as a fraud or deceit upon any person; or

(C)

fraudulently or with intent to defeat this chapter—

(i)

conceals or transfers any property belonging to the estate of a debtor;

(ii)

makes a false statement or account;

(iii)

presents or uses any false claim for proof against the estate of a debtor;

(iv)

receives any material amount of property from a debtor;

(v)

gives, offers, receives, transfers, or obtains any money or property, remuneration, compensation, reward, advantage, other consideration, or promise thereof, for acting or forebearing to act;

(vi)

conceals, destroys, mutilates, falsifies, makes a false entry in, or otherwise falsifies any document affecting or relating to the property or affairs of a debtor; or

(vii)

withholds, from any person entitled to its possession, any document affecting or relating to the property or affairs of a debtor,

shall be fined not more than $250,000 or imprisoned for not more than five years, or both.

(2)

Fraudulent conversion

(d)

Misrepresentation of SIPC membership or protection

(1)

In general

(2)

Injunctions

(Pub. L. 91–598, § 14, formerly § 10, Dec. 30, 1970, 84 Stat. 1655; renumbered § 14 and amended Pub. L. 95–283, §§ 9, 13, May 21, 1978, 92 Stat. 260, 269; Pub. L. 111–203, title IX, § 929V(b), (c), July 21, 2010, 124 Stat. 1868.)

cite as: 15 USC 78jjj