We fit ∼0.1–500 MeV nucleon−1 H–Fe spectra in 46 large solar energetic particle (SEP) events with the double power-law Band function to obtain a normalization constant, low- and high-energy parameters γa and γb, and break energy EB, and derive the low-energy spectral slope γ1. We find that: (1) γa, γ1, and γb are species-independent and the spectra steepen with increasing energy; (2) EB decreases systematically with decreasing Q/M scaling as (Q/M)α; (3) α varies between ∼0.2–3 and is well correlated with the ∼0.16–0.23 MeV nucleon−1 Fe/O; (4) in most events, α < 1.4, γb–γa > 3, and O EB increases with γb–γa; and (5) in many extreme events (associated with faster coronal mass ejections (CMEs) and GLEs), Fe/O and 3He/4He ratios are enriched, α ≥ 1.4, γb–γa < 3, and EB decreases with γb–γa. The species-independence of γa, γ1, and γb and the Q/M dependence of EB within an event and the α values suggest that double power-law SEP spectra occur due to diffusive acceleration by near-Sun CME shocks rather than scattering in interplanetary turbulence. Using γ1, we infer that the average compression ratio for 33 near-Sun CME shocks is 2.49 ± 0.08. In most events, the Q/M dependence of EB is consistent with the equal diffusion coefficient condition and the variability in α is driven by differences in the near-shock wave intensity spectra, which are flatter than the Kolmogorov turbulence spectrum but weaker than the spectra for extreme events. In contrast, in extreme events, enhanced wave power enables faster CME shocks to accelerate impulsive suprathermal ions more efficiently than ambient coronal ions.