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U.S. SEC levies $3.9 billion in fines in fiscal 2021 -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO : This is the seal of U.S. Securities and Exchange Commission, seen at its headquarters in Washington D.C. U.S. May 12, 2021. REUTERS/Andrew Kelly

WASHINGTON (Reuters] – On Thursday, the U.S. Securities and Exchange Commission reported that $3.9 Billion in fines were assessed for enforcement actions during fiscal 2021. That’s down from $4.7B in 2020 and a new record of $4.7B in 2020.

U.S. regulators stated that it assessed $1.4 Billion in fines and disgorged $2.4 Billion in ill-gotten assets in the course of 697 actions. This compares to $1.6 billion in disgorgement, $1 billion in penalties, and 715 cases.

Although standalone enforcement actions saw an increase to 434, compared with 405 in the past, they remained well below the five-year average. The bulk of collection came from a few cases that were significant in fiscal 2020.

According to an annual report by the SEC, the agency brought several first-of their kind cases, including one against DeFi (decentralized finance) firms, fraud charges against an alternate data provider, and violations of securities law on the “dark Web”.

This was also the record-breaking year for awards to whistleblowers. SEC reported that it distributed $564 Million to 108 whistleblowers.

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