---
kind: "section"
citation: "15 U.S.C. § 687g"
title: "15"
title_heading: "Commerce and Trade"
number: "687g"
heading: "Penalties and forfeitures"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/15/687g"
units:
  - "Chapter 14B — Small Business Investment Program"
  - "Subchapter III — Investment Division Programs"
  - "Part A — Small Business Investment Companies"
---

# §687g. Penalties and forfeitures

- (a) **Report violations—** Except as provided in [subsection (b)](#b) of this section, a [licensee](/usc/15/662.md?p=3) which violates any regulation or written directive issued by the [Administrator](/usc/15/662.md?p=2), requiring the filing of any regular or special report pursuant to [section 687b(b) of this title](/usc/15/687b.md?p=b), shall forfeit and pay to the United States a civil penalty of not more than $100 for each and every day of the continuance of the [licensee](/usc/15/662.md?p=3)’s failure to file such report, unless it is shown that such failure is due to reasonable cause and not due to willful neglect. The civil penalties provided for in this section shall accrue to the United States and may be recovered in a civil action brought by the [Administration](/usc/15/662.md?p=1).
- (b) **Exemption from reporting requirements—** The [Administration](/usc/15/662.md?p=1) may by rules and regulations, or upon application of an interested party, at any time previous to such failure, by order, after notice and opportunity for hearing, exempt in whole or in part, any [small business investment company](/usc/15/662.md?p=3) from the provisions of [subsection (a)](#a) of this section, upon such terms and conditions and for such period of time as it deems necessary and appropriate, if the [Administration](/usc/15/662.md?p=1) finds that such action is not inconsistent with the public interest or the protection of the [Administration](/usc/15/662.md?p=1). The [Administration](/usc/15/662.md?p=1) may for the purposes of this section make any alternative requirements appropriate to the situation.

## Source credit

(Pub. L. 85–699, title III, § 315, as added Pub. L. 89–779, § 7, Nov. 6, 1966, 80 Stat. 1364.)