NERA Economic Consulting's biannual report on SEC Settlement Trends shows a surge in settlements with individuals in the first half of FY 2012, with the agency on pace to see a 20% jump in such settlements over FY 2011. The report states that the SEC settled 286 cases with individuals in the first half of FY 2012 -- on pace for 572 settlements with individuals. The median value of settlements with individuals in this period also rose for the third consecutive year, reaching $190,000.

Total SEC settlements for the first half of 2012 hit 379, on pace for 758 total settlements for FY12. According to NERA, 758 settlements would be a 13% increase over FY 2011 and the most annual SEC settlements since 2005.

The primary driver for the increase in individual settlements so far in 2012 seems to be a jump in insider trading settlements -- an SEC crackdown that has been discussed here on several occasions. The SEC is on pace to have 120 insider trading settlements in FY 2012, up from 63 in FY 2011.

The SEC's largest settlement in the first half of FY 2012 was the $285 million settlement with Citigroup Global Markets. As discussed here in detail, this settlement remains in limbo, as it was initially rejected by Judge Jed Rakoff.

The full report and additional data is available at www.SecuritiesLitigationTrends.com.

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