SEC Reports Record $8.2B in Remedies With 583 Enforcement Actions in 2024

CN
4 hours ago

The U.S. Securities and Exchange Commission (SEC) announced on Friday a record-breaking year for enforcement in fiscal year 2024, spotlighting its efforts to uphold market integrity and investor protection. The agency revealed:

The Securities and Exchange Commission today announced that it filed 583 total enforcement actions in fiscal year 2024 while obtaining orders for $8.2 billion in financial remedies, the highest amount in SEC history.

This represents a 14% increase in enforcement actions compared to 2023. SEC Chair Gary Gensler commended the Division of Enforcement’s role, stating: “The Division of Enforcement is a steadfast cop on the beat, following the facts and the law wherever they lead to hold wrongdoers accountable. As demonstrated by this year’s results, the Division helps promote the integrity of our capital markets to benefit investors and issuers alike.”

Gensler has announced his resignation effective Jan. 20, 2025, coinciding with President-elect Donald Trump’s inauguration. Appointed in April 2021, Gensler’s tenure was marked by rigorous enforcement actions, particularly targeting the cryptocurrency sector, including lawsuits against major exchanges like Binance and Coinbase. His departure is anticipated to lead to a more crypto-friendly regulatory environment under the incoming administration.

Among the agency’s priorities were cases involving cryptocurrency, private funds, and other high-risk financial misconduct. Crypto-related enforcement actions, including unregistered token sales and fraudulent marketing schemes, highlighted the SEC’s focus on the growing digital asset market. Other notable cases addressed private fund violations and risky trading practices that posed significant threats to market stability. The SEC’s $8.2 billion in financial remedies, the highest in its history, underscores its commitment to deterring misconduct across traditional and digital financial sectors.

The report reflects the SEC’s evolving approach to addressing emerging challenges in finance. As markets continue to change, the agency remains focused on adapting its oversight to ensure investor confidence and compliance with securities laws.

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