Regulatory Outlook | 11.15.22
SEC Collects Record Penalties in FY 2022 Enforcement Actions
The U.S. Securities and Exchange Commission (SEC) reported that it collected $4.2 billion in fines in fiscal year 2022, the most in its history and more than the past three fiscal years combined. It also set a record with $6.4 billion in total money ordered from enforcement actions. The agency’s aggressive enforcement was meant to boost pressure on financial firms, advisors and other entities who break the rules. The SEC took the most enforcement actions — 174 — against misconduct by investment advisors and investment companies, which accounted for 23% of total actions. Broker-dealers were the target of 132 actions, or 17% of the total.
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