Feb 27, 2024
This report covers the SEC's accounting and auditing enforcement activities in fiscal year 2023. The SEC significantly increased its enforcement actions (22% increase) compared to the previous year, focusing heavily on accounting and auditing issues. However, monetary settlements for these actions decreased for the second year in a row, potentially due to the SEC rewarding companies that cooperate and take corrective measures. The report also found an increase in non-monetary penalties imposed on individuals and firms.
Nov 15, 2022
SEC enforcement activity against public company and subsidiary defendants increased in FY 2022 to 68 actions. The first full fiscal year of Chair Gensler’s tenure also saw total monetary settlements imposed by the SEC in public company and subsidiary actions climb to $2.8 billion. Monetary settlements were imposed on 97% of settling defendants. Both the total dollar amount and the percentage were the largest of any fiscal year in the Securities Enforcement Empirical Database (SEED).
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