SEC ANNOUNCES HIGHS IN ENFORCEMENT ACTIONS FOR FISCAL 2016 - Petersen

The SEC recently announced its enforcement results for fiscal year 2016 (ending September 30), stating that it reached new highs in the number of actions filed and in the money that was forfeited through disgorgement and penalties.

Record Number of Cases

The announcement stated that the SEC had initiated the highest number of cases involving investment advisers or investment companies in its history (160 total, with 98 standalone actions), as well as a historical high in actions brought under the Foreign Corrupt Practices Act (21).

The SEC also reported new highs in the overall number of enforcement actions filed (868 total, with 548 independent or standalone actions). Compared to 2015, the SEC also filed more “follow-on” administrative proceedings to bar persons or entities from the securities industry, based on a prior entry of a civil injunction or a criminal proceeding.

The SEC summarized yearly data from 2014 through 2016 in the table below:

Enforcement Results: Fiscal Years 2014-2016

The SEC press release can be found at the following link:

https://www.sec.gov/news/pressrelease/2016-212.html

Jeff Petersen is an attorney licensed in California and Illinois representing clients in a broad spectrum of SEC investigations and enforcement proceedings. He can be reached in California at 858.792.3666 and in Illinois at 312.583.7488.