Categories

Most Viewed

SEC’s Enforcement Results for FY 2022 Reflect Robust Enforcement and Record-Breaking Penalties | Troutman Pepper

On November 15, the U.S. Securities and Exchange Commission (SEC) announced its enforcement results for fiscal year 2022, which featured the following key metrics:

Record-breaking $6.4 billion in money ordered: The total $6.439 billion in civil penalties, disgorgement, and pre-judgment interest ordered reflects the highest-ever total money ordered by the SEC in a single year, and a significant increase from the $3.8 billion total ordered in fiscal year 2021. Civil penalties were also at a record high, comprising nearly $4.2 billion of the total money ordered. Disgorgement, which accounted for $2.245 billion, decreased by 6% from the prior fiscal year. A total of $937 million was distributed to harmed investors — more than a $400 million increase from fiscal year 2021.

A 9% increase in actions filed: The SEC filed 760 total enforcement actions in fiscal year 2022, a 9% increase over fiscal year 2021. These included 462 new, or “standalone,”enforcement actions, a 6.5% increase from last year; 129 actions against issuers related to allegedly delinquent required filings with the SEC; and 169 “follow-on”administrative proceedings, stemming from criminal convictions, civil injunctions, or other orders.

Second-highest year in whistleblower awards: The SEC issued approximately $229 million in 103 whistleblower awards, making fiscal year 2022 the second-highest year in whistleblower awards, both in terms of dollar amounts and number of awards. The SEC’s Whistleblower Program…

Read more…

    Leave Your Comment

    Your email address will not be published.*