Mon, Nov 30, 2015
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

SEC enforcement actions top $3.4 billion in 2013

Wednesday, December 18, 2013

Bailey McCann, Opalesque New York:

The Securities and Exchange Commission (SEC) has released a new report showing the totality of its enforcement efforts over the year. The final figure of fines collected for enforcement actions is an historic $3.4bn, bolstered by large individual settlements like that of SAC's. The SEC filed 686 enforcement actions in the fiscal year that ended in September.

In all, the total fines collected amount to 10% more than 2012 and 22% more than 2011 when the regulator filed its highest number of complaints to date. The SEC brought several significant actions against stock exchanges and other market participants on issues relating to market structure and fair market access. One of the most notable enforcement actions for the year relates to this area, NASDAQ agreed to pay a $10m penalty for its poor systems and decision-making during the Facebook IPO. FY 2013 also included the SEC’s first penalty against an exchange for violations relating to regulatory oversight when the agency charged the Chicago Board Options Exchange (CBOE) and an affiliate for various systemic breakdowns.

The SEC is also taking a closer look at municipalities. In a statement the regulator said it increased its attention to securities violations by municipalities and other participants in the market for securities of cities and other governmental issuers this year.

Going forward, the regulator plans to focus on tasks force efforts to stop fraud ad keep a clo......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Other Voices: Hedge fund marketing and the selling cycle[more]

    By Bruce Frumerman. How long is the selling cycle now? That’s a question my financial communications and sales marketing consulting firm has been asked on a regular basis by hedge fund firm owners and sales people, ever since we opened the doors to our firm in 1987 pre-crash. Wa

  2. People - Solus Alternative Asset Management adds chief strategist from BTIG[more]

    From Daniel Greenhaus joined hedge fund manager Solus Alternative Asset Management as managing director and chief strategist. He will work closely with Chris Bondy, Solus’ chief economist, managing director and executive vice president, said Chris Pucillo, CEO and chief investmen

  3. Opalesque Roundtable: Seeding deal terms can be onerous for hedge funds[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: Executives from fund of funds firms, family offices, a placement agent, a private equity firm, and an accounting firm gathered in Connecticut last month for the

  4. Opalesque Roundtable: Family offices flock to co-investment[more]

    Bailey McCann, Opalesque New York: Co-investments have been a hot topic for pension funds in recent years, as they try to move away from high fees and improve transparency. But now, family offices are more readily getting into the mix and establishing in-house deal teams, according to the delega

  5. More institutional investors invest in CTAs compared to last year despite dissatisfaction with performance[more]

    Benedicte Gravrand, Opalesque Geneva: "Despite a strong start to 2015 for CTAs in Q1, commodity market conditions have made return generation difficult for fund managers over much of the rest of the year to date," says Preqin’s November