Fraud Penalties Hit $3 Billion
The Securities and Exchange Commission said this year will mark the highest number of enforcement actions filed in the agency’s history.
The commission’s enforcement division filed 735 enforcement actions in its fiscal year that ended Sept. 30. More than $2.8 billion in penalties and disgorgement were ordered behind those actions.
The numbers include many cases involving highly complex products, transactions and market practices, including those related to the financial crisis as well as insider trading by market professionals, according to the SEC.