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US SEC Fines Surged in the Past Year

US SEC Fines Surged in the Past Year

by Starling Insights

Starling Insights Editorial Board

Nov 10, 2022

Observations

USA US SEC Governance, Audit & Regulatory Failures Regulatory Trends Culture & Misconduct Culture & Conduct Supervision Culture & Consequences

In the past year, the US Securities and Exchange Commission (SEC) has collected some of its largest fines ever, levying 13 penalties of over $100 million on publicly traded firms. These numbers represent a dramatic increase over the prior year, when the SEC issued just three fines over that amount.

In total, the SEC collected $2.2 billion in fines in the 2022 fiscal year. According to defence attorneys, the regulator can ratchet up fines as it sees fit, because brokerages, asset managers, and large public companies are eager to settle rather than appear in court to contest the agency that supervises them.

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