- 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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