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Alternative Market Briefing

SEC filed 807 enforcement actions in FY 2015

Friday, October 23, 2015

Bailey McCann, Opalesque New York:

New data out from the Securities and Exchange Commission shows another high volume year for enforcement actions. In the fiscal year that ended in September, the SEC filed 807 enforcement actions and obtained orders totaling approximately $4.2 billion in penalties. 507 of those cases were brought against individuals for violations of securities laws.

The figures for FY 2015 represent an increase over 2014 which saw 755 enforcement actions totaling some $4.16 billion in fines.

For 2015, the SEC is maintaining its 'broken windows' style of supervision, bringing some 300 cases against individuals and organizations who were late in filing the appropriate paperwork with the regulator.

The commission also cited a handful of first of their kind enforcement actions including the case brought against KKR for broken deal expenses as well as FCPA enforcement brought against BNY Mellon for hiring practices.

"Vigorous and comprehensive enforcement protects investors and reassures them that our financial markets operate with integrity and transparency, and the Commission continues that enforcement approach by bringing innovative cases holding executives and companies accountable for their wrongdoing sending clear warnings to would-be violators," said SEC Chair Mary Jo White in a statement.

The full report is available here. ......................

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