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The SEC’s Press Release and Addendum details the enforcement actions brought against firms in fiscal year 2021. Covering a wide range of enforcements, the 434 new standalone enforcement actions is a 7 percent increase compared to 2020. Overall, there was a 33 percent decrease in disgorgements totaling $2.4 billion, however a 33 percent increase in penalties totaling $1.4 billion.
"The SEC’s Enforcement Division is the cop on the beat for America’s securities laws," said Chair Gary Gensler. "As these results show, we go after misconduct wherever we find it in the financial system, holding individuals and companies accountable, without fear or favor, across the $100-plus trillion capital markets we oversee."
The following table identifies the number of standalone enforcement actions, follow-on administrative proceedings, and delinquent filings, which totals 697 different enforcement actions.
"This year has seen a number of critically important and first-of-their-kind enforcement actions, as well as record-breaking achievements for our whistleblower program, which we expect will lead to even more successful actions in the future," said Gurbir S. Grewal, Director of the SEC’s Division of Enforcement.
For more information, please refer to the SEC’s official Press Release and their Addendum which includes the figures and details for fiscal year 2021.
Coast to Coast Compliance can help give your firm and staff the confidence and preparedness to succeed in an SEC examination by conducting a mock SEC examination which includes the requesting and reviewing of key compliance and business documents, as well as the interviewing of various firm personnel. Coast to Coast Compliance can also provide a final exam interview, or written report if requested, covering the scope of the mock SEC examination, relevant findings, and any resulting recommendations.
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