Thursday, November 16, 2017 08.57AM / SEC
its ongoing efforts to protect Main Street investors, the Securities and
Exchange Commission’s Enforcement Division yesterday issued a report highlighting
its priorities for the coming year as well as a review of enforcement actions
that took place during FY 2017.
the report, Co-Directors Stephanie Avakian and Steven Peikin stated their
overall enforcement approach: “Vigorous enforcement of the federal securities
laws is critical to combat wrongdoing, compensate harmed investors, and
maintain confidence in the integrity and fairness of our markets.”
also stated five core principles that will guide their enforcement
decision-making: focus on the Main Street investor; focus on individual
accountability; keep pace with technological change; impose sanctions that most
effectively further enforcement goals; and constantly assess the allocation of
applaud the excellent work of the men and women of our Enforcement Division.
Through their tireless efforts to uncover wrongdoing and hold bad actors
accountable, they defend our Main Street investors and support the integrity of
our capital markets,” said SEC Chairman Jay Clayton.
Enforcement Directors our goal is to continue to protect investors, deter
misconduct, punish wrongdoers and keep our markets the safest and strongest in
the world,” said Stephanie Avakian, Co-Director of the SEC’s Enforcement
Enforcement Report clearly shows the broad range of the significant enforcement
actions, penalties and money returned to investors,” said Steven Peikin,
Co-Director of the SEC’s Enforcement Division. “We will continue to bring
enforcement actions involving misconduct that directly harms investors and our
to the report, fiscal year 2017 was a successful and impactful year for the
Enforcement Division. The Commission brought a diverse mix of 754 enforcement
actions, including 446 standalone actions and returned a record $1.07 billion
to harmed investors. A significant number of the Commission’s 446 standalone
cases concerned investment advisory issues, securities offerings, and issuer
reporting/accounting and auditing, each comprising approximately 20 percent of
the overall number of standalone actions.
Commission also continued to bring actions relating to market manipulation,
insider trading, and broker-dealers, with each comprising approximately 10
percent of the overall number of standalone actions, as well as other areas.
it obtained judgments and orders totaling more than $3.789 billion in
disgorgement and penalties.