SEC Charged Nearly $5 Billion in FY 2023 | CJ Schaible Insights
Vigilant Insights
Introduction
The SEC recently released its enforcement summary for fiscal year 2023. The nearly $5 billion in penalties is the second highest in history, with the highest being 2022.
Our Vice President of Sales and Business Development, CJ Schaible, MBA, was quoted in an article by Ignites about the takeaways from the Fiscal Year 2023 Enforcement Results.
CJ Schaible’s Insight
The article breaks down the numbers relating to the 2023 SEC Enforcement Results. Ignites notes that the number of enforcements actions and “stand-alone” enforcement actions have both increased compared to the previous fiscal year.
In reference to these numbers, CJ notes that there are many consistencies in the actions of the SEC for both 2022 and 2023. This indicates the SEC is still actively pursuing its goal of investor protection and the removal of bad actors from the securities industry. He believes that the current regulatory environment so far will likely continue without any slowdown.
Vigilant’s Conclusion
Without any signs that the SEC is changing its regulatory approach, it is important that Firms are prepared for the fiscal year 2024.
Proactive compliance is a crucial key to success in this regulatory environment that is both dynamic and aggressive.
Firms should assess their compliance programs and utilize the deep industry insight that experienced compliance professionals can provide.
Vigilant provides end-to-end Compliance Solutions, identifying gaps and creating plans tailored to your business model.
Reach out to us today for support if you are in need of assistance.