The US Securities and Exchange Commission recently released its enforcement statistics for fiscal year 2022. In this LawFlash, we discuss trends and takeaways on what was an active year for the Division of Enforcement.

The US Securities and Exchange Commission (SEC or Commission) announced its enforcement statistics for fiscal year 2022 (FY22) on November 15, 2022, in a press release (2022 Enforcement Release) and accompanying Addendum (Statistics). The Division of Enforcement (Enforcement) filed 760 total enforcement actions in FY2022.[1] Of the total, 462 were standalone enforcement actions, including both administrative proceedings and civil actions.[2] Enforcement activity resulted in total money ordered of $6,439,000,000 during the fiscal year, including civil penalties, disgorgement and prejudgment interest in SEC actions.[3] This marked an increase of $2,587,000,000 over the previous year and set a record for the highest total recorded in SEC history.[4]

A few overarching themes from Enforcement:

• A Belief in the Power of Penalties: While professing that success is more than just numbers, Enforcement highlights a substantial increase in civil penalties and the intention to continue this trend as a form of deterrence.
• A Focus on Individual Liability: Enforcement will continue to focus on individuals, particularly those who it perceives to be gatekeepers.
• Sweeps Are Here to Stay: Broad Enforcement sweeps similar to the recent off channel communications cases are...

Read Full Story: https://news.google.com/__i/rss/rd/articles/CBMiTGh0dHBzOi8vd3d3Lmpkc3VwcmEuY...