SEC Enforcement

SEC Enforcement Actions & Trends

Understanding SEC enforcement priorities and trends helps your firm identify risk areas and strengthen compliance programs before violations occur.

780+
Enforcement Actions (FY2024)
$8.2B
Penalties & Disgorgement

Enforcement Actions by Year

Total standalone SEC enforcement actions filed in each fiscal year.

FY2020
715
$4.7B
FY2021
697
$3.9B
FY2022
760
$6.4B
FY2023
784
$5.0B
FY2024
783
$8.2B
0200400600800

Top Violation Categories

Breakdown of SEC enforcement actions by primary violation type in FY2024.

Fraud
32%
Disclosure Violations
18%
Offering Violations
15%
Market Manipulation
12%
Insider Trading
10%
Registration Violations
8%
Other
5%

2025 SEC Enforcement Priorities

Key enforcement focus areas the SEC has identified for the coming year.

Crypto & Digital Asset Fraud

Targeting unregistered offerings, fraudulent crypto trading platforms, and advisor misconduct involving digital assets.

Gatekeeper Accountability

Holding accountable auditors, fund administrators, compliance officers, and other gatekeepers who enable securities violations.

Off-Channel Communications

Continued enforcement against firms and individuals who conduct business communications through unapproved channels.

AI & Emerging Technology Risks

Scrutinizing firms that make misleading claims about AI capabilities or fail to disclose AI-related risks to investors.

Conflicts of Interest

Pursuing undisclosed conflicts, particularly around compensation arrangements, revenue sharing, and affiliated transactions.

Whistleblower Retaliation

Enforcement against firms that retaliate against employees who report potential securities violations to the SEC.

Reduce your enforcement risk

Compliance Approved identifies compliance gaps before regulators do.