What is the penalty for violating the Unfair Practices article?

The penalty for violating the Unfair Practices article stipulates a $5,000 fine for each act of violation, with a heightened penalty of $10,000 for instances of willful violation. This framework underscores the seriousness with which such violations are treated, establishing a clear financial deterrent for individuals or entities that engage in unfair practices. The distinction between the fines for standard violations and willful violations signals the regulatory intent to discourage not just unintentional misconduct, but also deliberate actions that could harm consumers or undermine fair competition. Understanding this penalty structure is crucial for brokers as it highlights the importance of adhering to ethical practices in their dealings.