- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Kyle Brasseur2023-11-15T15:46:00
A big year for disgorgement helped the Securities and Exchange Commission (SEC) to its second highest total of financial remedies ordered in a single year in fiscal year 2023.
The agency’s FY23 enforcement results, released Tuesday, noted it obtained orders for nearly $5 billion in financial remedies during the year, which ended Sept. 30. The total fell short of the record $6.4 billion in enforcement penalties, fees, and interest the SEC collected in FY22.
Unlike FY22’s totals, which were driven largely by a record $4.2 billion in civil penalties, the SEC relied more on disgorgement and prejudgment interest for its enforcement success in FY23. Financial remedies comprised nearly $3.4 billion in disgorgement and prejudgment interest and nearly $1.6 billion in civil penalties, both the second highest amounts on record.
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2024-05-30T16:13:00Z By Kyle Brasseur
Gurbir Grewal, director of the Enforcement Division at the Securities and Exchange Commission, spelled out plainly his view on the best path to earning cooperation credit during settlement negotiations with the agency.
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A subsidiary of JPMorgan Chase will pay an $18 million fine to the Securities and Exchange Commission for allegedly violating the agency’s whistleblower protection rule in hundreds of settlement agreements with clients and customers.
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In this episode of the Digital Transformation of Compliance podcast series, Kyle Welch, a George Washington University associate professor of accountancy, discusses findings from his research on internal whistleblowing and compliance dashboards built by publicly traded U.S. companies to leverage hotline data.
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The U.S. Federal Trade Commission (FTC) took action against a pair of student loan debt relief companies for allegedly deceiving borrowers. The move came despite the Trump administration’s broader efforts to roll back enforcement actions against businesses since taking office.
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After dismissing its lawsuit against the crypto exchange Coinbase in March, a second investigation into the exchange by the Securities and Exchange Commission has surfaced, according to a report from the New York Times. This comes as a bit of a surprise after the Trump administration has been scaling down ...
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As the Consumer Financial Protection Bureau steps back from its core mission of protecting American consumers, states like New York and Pennsylvania are stepping up to fill the regulatory void.
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