The U.S. Securities and Exchange Commission (SEC) had a record year for enforcement activity in fiscal 2016, with new highs in cases filed and whistleblower payouts, the regulator announced on Tuesday.
Enforcement results for its fiscal year ending Sept. 30 show the SEC recorded a new high in enforcement actions, with 868 cases filed. That is up from 807 cases in 2015, and 755 in 2014.
Additionally, the commission distributed a record US$57 million to 13 whistleblowers during the year, which is more than in all previous years combined.
The SEC also obtained judgments and orders for more than US$4 billion in disgorgement and penalties. That is in line with the past two years, as it levied US$4.2 million in monetary sanctions in 2014 and 2015.
“By every measure the enforcement program continues to be a resounding success holding executives, companies and market participants accountable for their illegal actions,” says Mary Jo White, SEC chairwoman, in a news release.
“Over the last three years, we have changed the way we do business on the enforcement front by using new data analytics to uncover fraud, enhancing our ability to litigate tough cases, and expanding the playbook bringing novel and significant actions to better protect investors and our markets,” she adds.