The U.S. Securities and Exchange Commission (SEC) ordered almost US$4 billion in disgorgement and penalties as a result of its enforcement activities in fiscal 2018, according to a report published Friday.
The 2018 annual report of SEC’s division of enforcement indicates the division obtained judgments and orders totalling more than US$3.95 billion in disgorgement and penalties.
The enforcement division brought a total of 821 enforcement actions during the year, and returned US$794 million to harmed investors.
“Our goal is to continue to protect investors, deter misconduct, punish wrongdoers and keep our markets the safest and strongest in the world,” says Stephanie Avakian, co-director of the SEC’s enforcement division, in a statement.
The regulator’s enforcement activity during the year included actions involving market manipulation, insider trading, and broker-dealer misconduct, along with a variety of investment advisory issues.
“As this report demonstrates, the division’s approach to enforcement is multifaceted and outcomes-oriented with the interests of our Main Street investors front of mind,” says Jay Clayton, SEC chairman, in a statement “The enforcement division has been and continues to be extremely successful in its efforts to deter bad conduct and effectively remedy harms to investors.”