The number of new U.S. Securities and Exchange Commission enforcement actions against public companies and subsidiaries in fiscal year 2019 rose more than 30% over the previous fiscal year, driven by self-reporting under the SEC’s Share Class Selection Disclosure Initiative (Share Class Initiative), according to a report released today by the NYU Pollack Center for Law & Business and Cornerstone Research.
The report, SEC Enforcement Activity: Public Companies and Subsidiaries—Fiscal Year 2019 Update, analyzes data from the Securities Enforcement Empirical Database. The report shows that the SEC filed 95 new actions against public companies and subsidiaries in FY 2019, up from 72 in the previous year and the highest number in any fiscal year since SEED began tracking the data in FY 2010.
‘Enforcement 40’ for 2020
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