127.3—Penalties for violations.
Any person who willfully:
(a)
Violates any provision of section 38 or section 39 of the Arms Export Control Act (22 U.S.C. 2778 and 2779 ), or any undertaking specifically required by part 124 of this subchapter; or
(b)
In a registration, license application or report required by § 38 or § 39 of the Arms Export Control Act (22 U.S.C. 2778 and 2779) or by any rule or regulation issued under either section, makes any untrue statement of a material fact or omits a material fact required to be stated therein or necessary to make the statements therein not misleading, shall upon conviction be subject to a fine or imprisonment, or both, as prescribed by 22 U.S.C. 2778(c).