According to a recent InvestmentNews article, the enforcement actions against broker-dealers by the Securities and Exchange Commission (SEC), were up by 20% in the first half of the government’s fiscal year and now account for a quarter of all enforcement actions by the agency. This is according to a report from Cornerstone Research. Last year, the SEC’s actions against broker-dealers accounted for one-fifth of the SEC’s enforcement activities. The SEC filed 334 enforcement actions during the fiscal year’s first half, down from 372 filings during the same period a year earlier, largely due to a 50% decrease in actions against delinquent filers. 80% of the SEC actions filed continued to come in the form of administrative proceedings rather than civil actions. There was a jump of 34% in issuer reporting and disclosure actions, and a 34% increase in actions related to securities offerings. Actions involving allegations of insider trading and violations of the Foreign Corrupt Practices Act decreased.
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