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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…

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