SEC Reports 784 Enforcement Actions And $4.9 Billion In Fines For Fiscal Year 2023

According to Odaily, the U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler has released the full text of his testimony before the U.S. House Financial Services Committee. The testimony highlights that enforcement actions are central to the SEC's investor protection mandate. In the fiscal year 2023, the SEC undertook 784 enforcement actions, resulting in fines and disgorgements totaling $4.9 billion. Where feasible, the SEC aims to return civil penalties and disgorgements obtained through civil enforcement actions to harmed investors. In the fiscal year 2023, $930 million was distributed to affected investors.