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ARTICLE · 11 DECEMBER 2024

WMHW Alert: SEC Publishes Fiscal 2024 Enforcement Results: Our Take Looking Back And Ahead

Walden Haran & Williams LLP
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The SEC's fiscal 2024 Enforcement results are out, and show a considerable drop in the number of filed Enforcement Actions. In the final year of Chair Gary Gensler's and Enforcement Director Gurbir.

United StatesTechnology
Barry W. Rashkover
Barry W. Rashkover
Paul Ryan
Paul Ryan
Amanda Senske
Amanda Senske
Mary Diaz
Mary Diaz

The SEC's fiscal 2024 Enforcement results are out, and show a considerable drop in the number of filed Enforcement Actions. In the final year of Chair Gary Gensler's and Enforcement Director Gurbir Grewal's leadership, the SEC brought 583 actions, a 26% decrease from FY 2023, according to the SEC's November 22, 2024 press release. We attribute some of that decline to certain programmatic litigation setbacks, the flat budget over the last two years, and fewer securities offering and issuer reporting/audit and accounting cases (a ~43% drop from FY 2023). In addition, the number of FCPA cases declined from 11 to 2, an 82% drop. The SEC's 2024 enforcement priorities included crypto, off-channel communications, and the investment adviser Marketing Rule.

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