(6) Civil penalties (A) In general Any person who knowingly violates any provision of this chapter, or any provision of any rule or order under this chapter, shall be subject to— (i) except as provided in clause (ii) a civil penalty, which the Commission may assess, of not more than $1,000,000 for any one violation; and (ii) a civil penalty, which the President may assess, of not more than $1,000,000, in the case of any violation of an order under section 3362 of this title or an order or supplemental order under section 3363 of this title . (B) “Knowing” defined For purposes of subparagraph (A) the term “knowing” means the having of— (i) actual knowledge; or (ii) the constructive knowledge deemed to be possessed by a reasonable individual who acts under similar circumstances. (C) Each day separate violation For purposes of this paragraph, in the case of a continuing violation, each day of violation shall constitute a separate violation. (D) Statute of limitations No person shall be subject to any civil penalty under this paragraph with respect to any violation occurring more than 3 years before the date on which such person is provided notice of the proposed penalty under subparagraph (E). The preceding sentence shall not apply in any case in which an untrue statement of material fact was made to the Commission or a State or Federal agency by, or acquiesced to by, the violator with respect to the acts or omissions constituting such violation, or if there was omitted a material fact necessary in order to make any statement made by, or acquiesced to by, the violator with respect to such acts or omissions not misleading in light of circumstances under such statement was made. (E) Assessed by Commission Before assessing any civil penalty under this paragraph, the Commission shall provide to such person notice of the proposed penalty. Following receipt of notice of the proposed penalty by such person, the Commission shall, by order, asssess such penalty. (F) Judicial review If the civil penalty has not been paid within 60 calendar days after the assessment order has been made under subparagraph (E), the Commission shall institute an action in the appropriate district court of the United States for an order affirming the assessment of the civil penalty. The court shall have authority to review de novo the law and the facts involved, and shall have jurisdiction to enter a judgment enforcing, modifying, and enforcing as so modified, or setting aside in whole or in part, such assessment.


15 USC § 3414(b)(6)

Scoping language

For purposes of this paragraph
Is this correct? or