SEC Achieves Record Financial Recovery and Crypto Enforcement Actions in Fiscal Year 2023
The Securities and Exchange Commission (SEC) announced its enforcement results for fiscal year 2023, revealing that it filed 784 enforcement actions, obtained orders for nearly $5 billion in financial remedies, and distributed nearly $1 billion to harmed investors. The enforcement actions covered a wide range of violations in the securities industry, including fraud, cybersecurity threats, and misconduct by market participants. The SEC also highlighted its efforts to protect whistleblowers and promote investor protection. Additionally, the SEC saw record-breaking results in its whistleblower program, with over $600 million awarded to whistleblowers and a significant increase in tips received. The SEC's enforcement efforts in the crypto asset securities space were also highlighted, with actions taken against fraudsters, unregistered offerings, and non-compliant intermediaries.