SEC enforcement against public companies – A recap of 2023 | Davis Polk

Overall, 2023 included examples of the SEC’s willingness to push the enforcement envelope by asserting claims against non-financial individuals at public companies, focusing on disclosures beyond financial performance, alleging accounting control violations in cases seemingly unrelated to accounting and alleging disclosure control violations even without an underlying false disclosure. The SEC also displayed its willingness to litigate against public companies and executives, including by alleging its most serious violation, Section 10(b) intentional fraud. We expect to see these trends continue in 2024.

Source: SEC enforcement against public companies – A recap of 2023 | Davis Polk