Header graphic for print
The BD/IA Regulator Providing securities regulatory, enforcement and litigation trends for broker-dealers, investment advisers and investment funds

SEC FY 2016: A Record Year for Enforcement Cases Against Funds and Advisers

Posted in SEC Enforcement

On October 11, 2016, the Securities and Exchange Commission announced that it prosecuted a record number of enforcement cases against investment advisers and investment companies in the fiscal year ended September 30, 2016.

During this period, the SEC brought a record-breaking 868 enforcement actions against companies and their executives and gatekeepers for alleged misconduct. Of this amount, the SEC targeted 160 (“the most ever”) cases as involving investment advisers or investment companies. The SEC also brought 98 (“the most ever”) standalone, or independent, cases involving investment advisers or investment companies. Add to this a record of 548 standalone enforcement actions, judgments and orders totaling more than $4 billion in disgorgement and penalties, a record $57 million distributed to whistleblowers during the fiscal year.

Read our client alert.