Federal · Title 15 — Commerce and Trade

15 U.S.C. § 80a: Liability of controlling persons; preventing compliance with subchapter

Civil

What this law says, in plain English

This statute prohibits causing others to violate investment company regulations, providing knowing assistance to violations, and obstructing required filings or record-keeping. Enforcement occurs through civil Commission actions.

Read the full statutory text

It shall be unlawful for any person, directly or indirectly, to cause to be done any act or thing through or by means of any other person which it would be unlawful for such person to do under the provisions of this subchapter or any rule, regulation, or order thereunder. For purposes of any action brought by the Commission under subsection (d) or (e) of section 80a–41 of this title , any person that knowingly or recklessly provides substantial assistance to another person in violation of a provision of this subchapter, or of any rule or regulation issued under this subchapter, shall be deemed to be in violation of such provision to the same extent as the person to whom such assistance is provided. It shall be unlawful for any person without just cause to hinder, delay, or obstruct the making, filing, or keeping of any information, document, report, record, or account required to be made, filed, or kept under any provision of this subchapter or any rule, regulation, or order thereunder.

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This page is legal information, not legal advice. Code text is sourced from official publications and may lag amendments — always confirm at the official source linked above. Plain-English summaries and relationship data are AI-derived and reviewed on an ongoing basis; verify with a licensed attorney before acting.