SEC enforcement drops

first_img Facebook LinkedIn Twitter James Langton Keywords EnforcementCompanies Securities and Exchange Commission Most of the drop came in stand-alone SEC actions, which dropped from 526 cases in 2019 to just 405 in fiscal 2020.The number of follow-on administrative proceedings also declined from last year, while delinquent filings were essentially unchanged.For the SEC’s stand-alone actions, the top issue was securities offerings (32%), followed by investment advisory and investment company issues (21%), and issuer reporting/accounting and auditing cases (15%).While the volume of cases was down notably from last year, the quantum of penalties and disgorgement imposed by the SEC in fiscal 2020 edged higher by about 8%.The SEC ordered $3.6 billion (all figures in U.S. dollars) in disgorgement in fiscal 2020, up from $3.3 billion in the previous year. Total penalties were essentially unchanged at US$1.1 billion.During the year, the SEC also returned more than $600 million to harmed investors, and it paid out a record $175 million to 39 whistleblowers. Enforcement activity by the U.S. Securities and Exchange Commission (SEC) plunged in fiscal 2020, according to the enforcement division’s latest annual report.The SEC published a report Monday showing that the number of cases it brought dropped to 715 in fiscal 2020 (year end Sept. 30) from 862 in fiscal 2019. Businessman Blowing Whistle Isolated on White Background EHStock/iStock PwC alleges deleted emails, unusual transactions in Bridging Finance case Share this article and your comments with peers on social media BFI investors plead for firm’s sale Mouth mechanic turned market manipulator Related newslast_img

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