(Reuters) – The U.S. Securities and Exchange Commission collected $6.4 billion from enforcement actions, including $4 billion in penalties, in fiscal year 2022, agency chairman Gary Gensler said on Wednesday.
The sheer number of charges — collected in fines, judgments and other charges from about 700 enforcement actions — would mark a record, underscoring the Wall Street watchdog’s more aggressive stance against corporate wrongdoing under Democratic leadership.
The total take is higher than last year’s $3.9 billion the SEC obtained from 697 actions and than 2020’s record $4.7 billion across 715 cases, according to a review of the SEC’s past enforcement records.
Mr. Gensler highlighted the SEC̵
7;s enforcement activities in the year ended Sept. 30 in prepared remarks at a Practicing Law Institute event. The agency is expected to publish its full enforcement report sometime this month.This year’s enforcement activity included several major resolutions, including a $675 million penalty against Germany’s Allianz SE to settle investigations into the collapse of a group of investment funds and penalties against major Wall Street banks including Barclays, Bank of America, Goldman Sachs and JPMorgan after staff discussed offers and exchanges on their personal devices and apps.
This year’s charges also included a $200 million settlement with Boeing Co. over allegations of misleading investors about its 737 MAX and fines against BlockFi Lending LLC for failing to register a crypto-lending product.
Source link
