The US’s SEC revealed this Tuesday the end results, in numbers, of all recovered funds from disgorgement actions, pre-judgment interests, and civil penalties, of the 2022 fiscal year. The United States Securities and Exchange Commission revealed that in total it has recovered $6.439 billion.
The amount is 67 percent higher than last fiscals year’s $3.852 billion, and has been announced by SEC to be its highest recorded ever. The sum was recovered from some 760 direct enforcement actions during the 2022 fiscal period.
Moreover, SEC revealed that around 35% ($2.245 billion) of the recovered money has been reclaimed from disgorgement enforcements. Furthermore, the agency disclosed that 61 percent or 462 of the actions were lone-actors or so called “stand-alone” practices, while 17% were actions “against issuers who were allegedly delinquent in making required filings with the SEC.” in SEC’s own words.
Meanwhile, SEC’s whistleblower program has produced staggering fiscal results as well. This year alone the regulator gave away $229 million to contributors who helped tackle scams or other in-company issues. The program also received the highest amount of tips since its inception- a total of 12 300 whistleblower tips in total.
The records are, however, not likely to be broken again, at least not in the foreseeable future. This was noted by the Director of the SEC Division of Enforcement, Gurbir Grewal, who states that the agency’s behavior is expected to change and so is the market’s.