; and (hh) a certification by the regional center that such statements are accurate, to the best of the certifier’s knowledge, after a due diligence investigation; and (VII) a description of the regional center’s policies and procedures that are designed to enable the regional center to comply with applicable Federal labor laws. (ii) Amendment of annual statements The Director— (I) shall require the regional center to amend or supplement an annual statement required under clause (i) if the Director determines that such statement is deficient; and (II) may require the regional center to amend or supplement such annual statement if the Director determines that such an amendment or supplement is appropriate. (iii) Sanctions (I) Effect of violation The Director shall sanction any regional center entity in accordance with subclause (II) if the regional center fails to submit an annual statement or if the Director determines that the regional center— (aa) knowingly submitted or caused to be submitted a statement, certification, or any information submitted pursuant to this subparagraph that contained an untrue statement of material fact; or (bb) is conducting itself in a manner inconsistent with its designation, including any willful, undisclosed, and material deviation by new commercial enterprises from any filed business plan for such commercial enterprises. (II) Authorized sanctions The Director shall establish a graduated set of sanctions based on the severity of the violations referred to in subclause (I), including— (aa) fines equal to not more than 10 percent of the total capital invested by alien investors in the regional center’s new commercial enterprises or job-creating entities, the payment of which shall not in any circumstance utilize any of such alien investors’ capital investments, and which shall be deposited into the EB–5 Integrity Fund established under subparagraph (M)