This past year saw significant activity by the Division of Enforcement at the U.S. Securities and Exchange Commission ("SEC"). While the overall number of enforcement actions filed in fiscal year 2013 declined, the SEC collected a record amount of penalties and disgorgement, reaching approximately $3.4 billion.1 Moreover, setting aside the statistical data, the public statements and actions emanating from both the agency Chair Mary Jo White and Enforcement Director Andrew Ceresney suggest an increasingly hostile environment for those facing SEC scrutiny. This article reviews a selection of the top five SEC Enforcement events of 2013.
Originally published in the March 2014 edition of Financial Fraud Law Report.
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