U.S. SEC Chairman Announces House Testimony: Fines and Recoveries Reach $4.9 Billion in Fiscal Year 2023

PANews reported on September 26 that Gary Gensler of the U.S. Securities and Exchange Commission (SEC) has released his full testimony to the U.S. House Financial Services Committee, in which he revealed that law enforcement is at the core of SEC's investor protection duties. In fiscal year 2023, the SEC undertook 784 enforcement actions, with fines and disgorgements amounting to $4.9 billion. Where feasible, civil penalties and recoveries obtained by the SEC in civil enforcement actions will be returned to victimized investors; in fiscal year 2023, $930 million was distributed to such investors.