Planning Briefs
Financial Crime Snitches Are In Stitches, Exacting Revenge Against Dishonest Former Employers
Published Wednesday, November 15, 2023 at: 7:00 PM EST
The Securities and Exchange Commission filed enforcement actions against 501 individuals or entities in the 12 months through September 2023 — an 8% increase over the prior fiscal year.
The SEC obtained orders for $5 billion in financial remedies, the second highest amount in history, after the record-setting remedies ordered in fiscal year 2022. The financial remedies comprised $3.4 billion in disgorgement and prejudgment interest and $1.6 billion in civil penalties. Orders barring 133 individuals from serving as officers and directors of public companies hit a 10 -year-high.
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