On July 23rd, Senators Jack Reed and Chuck Grassley announced the introduction of a bill to strengthen the SEC's ability to enforce securities laws violations. The "Stronger Enforcement of Civil Penalties Act of 2012" would increase the per violation cap applicable to the most serious securities laws violations to $1 million per violation for individuals, and $10 million per violation for entities. In cases where the penalty is tied to the amount of money gained by the malfeasance, the SEC would be able to triple the penalty. It would also triple the penalty cap for recidivists who have been convicted of securities fraud or subject to SEC administrative relief within the past five years. And the agency would also be able to assess these types of penalties in administrative proceedings, not just in federal court. Grassley Press Release.