### Question
What does first-time violation mean?


### Answer
**First-time violation** has the following meaning in *15 U.S.C. § 6617*:

> a violation by a small business concern of a federally enforceable rule or regulation (other than a Federal rule or regulation that relates to the safety and soundness of the banking or monetary system or for the integrity of the National Securities markets, including protection of depositors and investors) caused by a Y2K failure if that Federal rule or regulation had not been violated by that small business concern within the preceding 3 years

#### Citation:
  - *15 U.S.C. § 6617*
  - Heading: **CHAPTER 92-YEAR 2000 COMPUTER DATE CHANGE**

