The U.S. Securities and Exchange Commission (SEC) levied $5 billion through enforcement actions and barred more than 100 individuals from serving as company directors and officers in fiscal 2023, the agency’s chair Gary Gensler said on Wednesday.
Total penalties and other fees levied in the fiscal year that ran through September were down from a record of $6.4 billion in 2022, according to Gensler’s remarks prepared for an industry event. Total actions rose to 780 from about 700 a year earlier.
The SEC also barred 133 individuals from serving as directors and officers, the highest in a decade, Gensler said. Greater use of such bans, including one against a former McDonald’s Corp CEO, come as the agency has sought to focus on individual accountability and misconduct.
‘Enforcement 40’ for 2020
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