; 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 (i) In general Notwithstanding subparagraphs (A) and (B), for a third tier violation, the amount of penalty for each such violation 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 violation; or (III) the amount of losses incurred by victims as a result of the violation. (ii) Third tier violation For the purposes of this subparagraph, the term third tier violation means a violation described in paragraph (1) that— (I) involved fraud, deceit, manipulation, or deliberate or reckless disregard of a regulatory requirement; and (II) directly or indirectly— (aa) resulted in substantial losses to other persons; (bb) created a significant risk of substantial losses to other persons; or (cc) resulted in substantial pecuniary gain to the person who committed the violation. . (d) Investment Advisers Act of 1940 (1) Money penalties in administrative actions Section 203(i)(2) of the Investment Advisers Act of 1940 ( 15 U.S.C. 80b–3(i)(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 (i) In general Notwithstanding subparagraphs (A) and (B), for a third tier act or omission, 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