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November 06, 2019 at 03:38 PM
The Securities and Exchange Commission brought a diverse mix of 862 enforcement actions in fiscal year 2019, of which 526 were “standalone” actions of which the plurality, 36%, involved advisory and investment company issues.
The securities regulator’s enforcement division notes in its just-released annual report that it also obtained judgments and orders totaling more than $4.3 billion in disgorgement and penalties in fiscal 2019, a jump from the $3.9 billion ordered in 2018.
A total of 38, or 7%, of the standalone actions in fiscal 2019 involved broker-dealers.
Despite a near-total cessation of activity for 35 days due to the government shutdown at the beginning of the year, the number of standalone enforcement actions was nearly 7% higher in fiscal 2019 than last year’s 490 actions. The SEC said the increase was due, in part, to the self-reporting nature and accelerated resolution process of the Share Class Selection Disclosure Initiative.
