The Securities and Exchange Commission Announces Enforcement Actions for Fiscal Year 2022

The Securities and Exchange Commission Announces Enforcement Actions for Fiscal Year 2022
11/17/2022

On November 15th, the Securities and Exchange Commission (SEC) announced its enforcement actions for the 2022 fiscal year. This year the SEC filed 760 enforcement actions that amounted to a 9% increase over the 2021 fiscal year. Most of these actions were “stand-alone” enforcement actions and ranged from “first-of-their-kind” actions to traditional securities law violations and charges. Money ordered from these actions, comprising of civil penalties, disgorgement, and pre-judgment interest totaled almost $6.5 billion. The money ordered for 2022 is up from almost $3.9 billion in 2021 and is the most on record in SEC history. Along with this, 2022 was the SEC’s second-highest year ever for whistleblower awards – both in fiscal awards and the number of those awarded.

Speaking on the 2022 fiscal year and the undertakings of enforcement actions, Director of the SEC’s Division of Enforcement, Gurbir S. Grewal, noted, “As reflected in these results, the Enforcement Division is working with a sense of urgency to protect investors, hold wrongdoers accountable and deter future misconduct in our financial markets.”

As the SEC continues to focus on investor protection throughout all aspects of the financial and regulatory sphere, Joot’s compliance team can help you make sure your compliance program is in tip-top shape. Click here to read the full press release and contact Joot for all your compliance needs.