By Chris Prentice
WASHINGTON (Reuters) -The U.S. Securities and Exchange Commission (SEC) obtained $6.4 billion from enforcement actions, including $4 billion in penalties, in fiscal 2022, the agency’s chair Gary Gensler said on Wednesday.
The large number of levies – collected in fines, judgments and other fees from about 700 enforcement actions – would mark a record, underscoring the Wall Street regulator’s more aggressive stance against corporate wrongdoing under Democratic leadership.
The total levied is higher than the previous year’s $3.9 billion the SEC obtained from 697 actions and than 2020’s record of $4.7 billion across 715 cases, according to a review of SEC’s previous enforcement results.
Gensler highlighted the SEC’s enforcement activity in the year ended September 30 in prepared remarks at a Practicing Law Institute event. The agency is expected to publish its full enforcement report sometime this month.
The year’s enforcement activity included several large resolutions, including a $675-million penalty against Germany’s Allianz SE to resolve probes over the collapse of a group of investment funds and penalties against major Wall Street banks including Barclays, Bank of America, Goldman Sachs , and JPMorgan after staff discussed deals and trades on their personal devices and apps.
The year’s charges also included $200 million settlement with Boeing Co to over charges it misled investors about its 737 MAX and a fine against BlockFi Lending LLC with failing to register a crypto lending product.
(Reporting by Chris Prentice; Editing by Chizu Nomiyama)