Page:United States Statutes at Large Volume 106 Part 4.djvu/879

 PUBLIC LAW 102-546—OCT. 28, 1992 106 STAT. 3615 "(d)(1) In any action brought under this section, the Commission may seek and the court shall have jurisdiction to impose, on a proper showing, on any person found in the action to have committed any violation a civil penalty in the amount of not more than the higher of $100,000 or triple the monetary gain to the person for each violation. "(2) If a person on whom such a penalty is imposed fails to pay the penalty within the time prescribed in the court's order, the (Commission may refer the matter to the Attorney CJeneral who shall recover the penalty by action in the appropriate United States district court.". SEC. 222. CIVIL DAMAGES; LIABILITY OF FUTURES COMMISSION MER- CHANTS. (a) DUTIES OF CONTRACT MARKETS.— Subsection (a)(ll) of section 5a (7 U.S.C. 7a) (as amended by section 201(a)(1) of this Act) is further amended— (1) by striking "(i)" and inserting "(A)"; (2) by striking "voluntary and (ii)" and inserting "voluntary, (B)'';and (3) by inserting after the word "market" the following: ", and ((5) in the case of a claim arising from a violation in the execution of an order on the floor of a contract market, such procedure shall provide, to the extent appropriate— "(i) for payment of actual damages proximately caused by such violation. If an award of actual damages is made against a floor broker in connection with the execution of a customer order, and the futures commission merchant which selected the floor broker for the execution of the customer order is held to be responsible under section 2(a)(l) for the floor broker's violation, such futures commission merchant may be required to satisfy such award; and "(ii) where the violation is willful and intentional, for payment to the customer of punitive or exemplary damages, in addition to losses proximately caused by the violation, in an amount equal to no more than two times the amount of such losses. If punitive or exemplary damages are awarded against a floor broker in connection with the execution of a customer order, and the futures commission merchant which selected the floor broker for the execution of such order is held to be responsible under section 2(a)(1) for the floor broker's violation, such futures commission merchant may be required to satisfy the award of punitive or exemplary damages if the floor broker fails to do so, except that such requirement shall apply to the futures commission merchant only if it willfully and intentionallpr selected the floor broker with the intent to assist or facilitate the floor broker's violation;". (b) COMPLAINTS AGAINST REGISTERED PERSONS.—Section 14(a) (7 U.S.C. 18(a)) is amended by striking "awarding actual damages proximately caused by such violation." and inserting "awarding— "(1) actual damages proximately caused by such violation. If an award of actual damages is made against a floor broker in connection with the execution of a customer order, and the futures commission merchant which selected the floor broker for the execution of the customer order is held to be

�