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SEC 2008 Enforcement Results: Second Highest Number of Actions Ever

Bruce Carton | October 22, 2008

The SEC announced today that it brought 671 enforcement actions in its fiscal year 2008 (ended Sept. 30, 2008), the second-highest number of enforcement actions in agency history. It also announced that for the second year in a row, it returned more than $1 billion to harmed investors through Fair Fund distributions.

Some of the enforcement highlights from 2008 emphasized by the SEC:

  • the "highest number ever" of insider trading cases, including charging former Dow Jones Board Member David Li and three other Hong Kong residents in a $24 million insider trading enforcement action, and charging the former chairman and CEO of a division of Enron Corp. with illegally selling hundreds of thousands of shares of Enron stock based on nonpublic information.
  • a record number of enforcement actions against market manipulation in 2008, including charges against a Wall Street short seller for spreading false rumors, and charges against 10 insiders or promoters...
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