New rules going forward are one matter, punishing people after the fact for a reasonable interpretation of the law that happens to diverge from the thinking of some on the Commission is quite another.
It is worth noting that the FEC could have passed a regulation clarifying the law long ago. But the normally pro-regulation wing of the FEC has rejected any rulemaking that does not include provisions of the “DISCLOSE Act” and other add-ons that have been explicitly rejected by Congress. This desire to legislate, not simply enforce the law, has poisoned the Commission’s ability to address changes in the legal landscape. It is that intransigence that has created this uncertain legal regime, which those same Commissioners are now using to scapegoat honest attempts to comply with the law. That is unfortunate.