# Corporations and Associations (GCA)

## Title 11. Maryland Securities Act

### Subtitle 4. Requirements of Broker-Dealers, Agents, Investment Advisers, Investment Adviser Representatives, and Federal Covered Advisers

#### Section 11-417

On notice and hearing as provided in Sec. 11-416 of this subtitle, the Commissioner may fine any broker-dealer, agent, investment adviser, or investment adviser representative up to a maximum amount of $5,000 for any single violation of this title.

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Md. Code Ann., Corps. & Ass'ns (as displayed at mgaleg.maryland.gov, October 16, 2026)