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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Adrianne Appel2022-11-16T22:01:00
The Securities and Exchange Commission (SEC) collected more than $6.4 billion in enforcement penalties, fees, and interest in fiscal year 2022—the largest amount in the agency’s history and a massive increase over a transition year in 2021.
Civil penalties alone in FY2022, which ended Sept. 30, totaled almost $4.2 billion—also a record, the SEC said in its report accompanying Tuesday’s announcement. Disgorgement, at $2.2 billion, decreased by 6 percent year-over-year.
In FY2021, the agency netted more than $3.8 billion total in penalties, interest, and disgorgement. That year saw the appointment of a new chair in Gary Gensler, who named Gurbir Grewal to lead enforcement efforts in June 2021.
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News and analysis for the well-informed compliance or audit exec.
Annual Membership best value
Subscribe now for $365
Our lowest price ($1 per day) for one year.
2023-03-17T18:05:00Z By Aaron Nicodemus
Sens. Chuck Grassley (R-Iowa) and Elizabeth Warren (D-Mass.) revived a whistleblower protection bill aimed at shielding whistleblowers from retaliation and cutting down on the time it takes to receive an award from the Securities and Exchange Commission.
2022-12-14T13:00:00Z By Kyle Brasseur
Chief compliance officers are earning more than before compared to previous years of our “Inside the Mind of the CCO” survey, though trends like differences in gender pay persist.
2022-09-28T18:39:00Z By Aaron Nicodemus
Eleven banks, investment firms, and their affiliates will pay a total of more than $1.8 billion in fines for “widespread and longstanding failures” in monitoring, maintaining, and preserving electronic communications by employees.
2024-07-02T20:35:00Z By Adrianne Appel
Three former executives of Chicago-based Outcome Health, a healthcare technology company, were sentenced for misleading an auditor, clients, lenders, and investors about a scheme to sell $45 million in overbilled advertisements.
2024-07-02T14:42:00Z By Adrianne Appel
A home health company operating in Indiana, Ohio, and Texas agreed to pay nearly $4.5 million to settle allegations it filed false claims by giving sports tickets and other kickbacks to assisted living facilities in exchange for referrals.
2024-07-02T13:50:00Z By Aaron Nicodemus
Crypto-friendly Silvergate Bank will pay a total of $63 million penalties to California and the Federal Reserve Board to settle charges that its anti-money laundering program failed to properly monitor more than $1 trillion worth of customer transactions.
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