SEC Act of 2025

This bill sets a clear rule for how to count the number of securities law violations when the government calculates fines. It says that several rule-breaking acts count as one violation if they come from the same basic cause, use the same wrong or missing statement, or are part of a continuing failure to follow the rules.

It applies across securities laws, including rules about registering, offering, and selling investments, and to the conduct of brokers, dealers, and investment advisers.

• Who is affected: Companies that issue or sell investments; brokers, dealers, and investment advisers.
• What changes: Multiple acts can be counted as a single violation if they share a common cause, the same false or missing statement, or are part of an ongoing failure to comply.
• When: No specific start date is given in the text provided.