Civil money penalties are fines imposed by regulatory agencies or courts in civil cases for violations of securities laws or regulations. These penalties are designed to punish and deter wrongdoing, and to compensate for harm caused to investors or the markets.

Civil money penalties can be imposed for a wide range of violations, including:

1. Fraud or deceit in securities transactions

2. Violations of registration or reporting requirements

3. Insider trading

4. Market manipulation

5. Failure to supervise or comply with regulatory requirements

6. Violations of securities exchange rules or regulations

The amount of the penalty can vary widely, depending on the severity of the violation, the amount of harm caused, and the defendant's level of culpability. Factors considered in determining the penalty amount include:

1. Gravity of the violation

2. Duration of the violation

3. Amount of harm caused

4. Defendant's financial condition

5. Cooperation with investigators

6. Prior disciplinary history

Civil money penalties can be imposed by regulatory agencies such as the Securities and Exchange Commission (SEC) in the United States, or by courts in civil lawsuits brought by investors, regulators, or other parties. The penalties can be paid to the regulatory agency, the court, or directly to harmed investors.

The purpose of civil money penalties is to:

1. Deter future violations

2. Punish wrongdoing

3. Compensate harmed investors

4. Protect the integrity of the securities markets

5. Encourage compliance with securities laws and regulations.