; and (ii) by striking $50,000 and inserting $100,000 ; (B) in paragraph (2)— (i) by striking $50,000 and inserting $100,000 ; and (ii) by striking $250,000 and inserting $500,000 ; and (C) by striking paragraph (3) and inserting the following: (3) Third tier Notwithstanding paragraphs (1) and (2), the amount of penalty for each such act or omission shall not exceed the greater of— (A) $1,000,000 for a natural person or $10,000,000 for any other person; (B) 3 times the gross amount of pecuniary gain to the person who committed the act or omission; or (C) the amount of losses incurred by victims as a result of the act or omission, if— (i) the act or omission described in subsection (a) involved fraud, deceit, manipulation, or deliberate or reckless disregard of a regulatory requirement; and (ii) such act or omission directly or indirectly resulted in substantial losses or created a significant risk of substantial losses to other persons or resulted in substantial pecuniary gain to the person who committed the act or omission. . (c) Investment Company Act of 1940 (1) Money penalties in administrative actions Section 9(d)(2) of the Investment Company Act of 1940 ( 15 U.S.C. 80a–9(d)(2) ) is amended— (A) in subparagraph (A)— (i) by striking $5,000 and inserting $10,000 ; and (ii) by striking $50,000 and inserting $100,000 ; (B) in subparagraph (B)— (i) by striking $50,000 and inserting $100,000 ; and (ii) by striking $250,000 and inserting $500,000 ; and (C) by striking subparagraph (C) and inserting the following: (C) Third tier Notwithstanding subparagraphs (A) and (B), the amount of penalty for each such act or omission shall not exceed the greater of— (i) $1,000,000 for a natural person or $10,000,000 for any other person; (ii) 3 times the gross amount of pecuniary gain to the person who committed the act or omission