Citing the U.S. government shutdown last fall, which disrupted the collection of economic statistics, the U.S. Securities and Exchange Commission (SEC) will not be adjusting its maximum monetary penalties for inflation this year.
In a filing to the U.S. Federal Register, the SEC said its maximum civil monetary penalties will not be increased for inflation in calendar 2026, despite legislation that requires federal agencies to annually adjust for inflation.
According to the notice, the U.S. Bureau of Labor Statistics was unable to produce certain inflation data “due to a lapse in appropriations” between Oct. 1 and Nov. 12, 2025. As a result, “there was no inflation adjustment multiplier for 2026,” it said.
And, the Office of Management and Budget (OMB) determined that there would be no inflation adjustment for civil monetary penalties for 2026.
Ordinarily, the regulator revises the penalties that can be imposed under the statutes it administers, including the Securities Act, the Exchange Act, the Investment Company Act and the Investment Advisers Act — along with the penalties levied by the U.S. Public Company Accounting Oversight Board, which are enforced by the SEC.