A new study by NERA Economic Consulting shows that the SEC reached 714 settlements in its fiscal year 2012, the highest number since 2007. 537 of these settlements were with individuals, which was the highest number of individual settlements since 2005. 

The NERA report ("SEC Settlement Trends: 2H12 Update") offers several other interesting findings, including: 

There was a record number of insider trading settlements in FY12. According to NERA, "the SEC settled with 118 individuals and eight companies in FY12, almost double the total number of settlements from last year, and 20% more than the previous post-SOX record of 99 insider trading settlements with individuals in 2003."

There was also a record number of Ponzi scheme settlements in FY12. The 92 such settlements in FY12 represented a new post-SOX record for the third year in a row, and included 63 settlements with individuals and 29 settlements with companies (both figures were post-SOX highs).

There were 16 FCPA settlements, down from the post-SOX record of 20 settlements in FY10 and 18 settlements in FY11. 11 of the 12 FCPA settlements between the SEC and corporate defendants were the result of self-reporting.

Median settlement values for individuals have risen from $103,000 in FY09 to $221,000 in FY12, a post-SOX high. In addition, six of the 10 largest settlements in FY12 were against individuals.

Assessing the various data points concerning settlement activity and amounts with individuals in FY12, NERA concluded that the results were "consistent with a focus on individual accountability."

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