C.R.S. § 39-22-658

(1) The penalty for the failure of a material advisor to disclose a reportable or listed transaction as required by section 39-22-656 (1)(a) shall be up to twenty thousand dollars. (2) If a material advisor that is required to disclose a reportable or listed transaction in accordance with section 39-22-656 (1)(a) provides false or incomplete information to the department, then an additional penalty shall be imposed of up to twenty thousand dollars. (3) If a material advisor that is required to maintain a list under section 39-22-657 (1) fails to make that list available to the department within a twenty-day period after the day on which the department mails a written request for that list, the material advisor shall be subject to a penalty of ten thousand dollars for each day that the material advisor fails to make that list available to the department after the expiration of the twenty-day period. (4) A penalty imposed by this section shall be in addition to any other penalty imposed by articles 21 and 22 of this title.