On November 15, 2022, the SEC announced its enforcement results for fiscal year 2022, which ended on September 30, reporting the following key metrics and highlights:

• 9% increase in number of actions filed. The SEC filed 760 enforcement actions, representing a 9% increase over the prior year. Of the 760 actions, 464 were “stand-alone” matters, a 6.5% increase over the prior year.
• Record-breaking and “recalibrated” penalties issued. The agency set a new record for money ordered in SEC actions in a single year, with the total, including disgorgement, pre-judgment interest, and civil penalties, reaching nearly $6.5 billion. Civil penalties accounted for $4.2 billion of the total money ordered, which is the largest single-year amount ordered in that category in the SEC’s history — and more than was ordered the past three years combined. Disgorgement and pre-judgment interest totaled $2.245 billion, representing a 6% decline over fiscal year 2021. $937 million was distributed to harmed investors, over $400 million more than the prior year.
• Individual accountability — as well as cooperation and remediation — emphasized. More than two-thirds of the stand-alone enforcement actions involved charges against at least one individual. Where relevant, settled orders were also increasingly transparent in detailing cooperation and remediation that merited credit.
• Whistleblowers continued to be a focus. Fiscal year 2022 was also the SEC’s second highest year for whistleblower awards,...

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