Richard

Bank AI

PulseX

<div class="cryptonews">
 <p>For <a rel="noopener noreferrer nofollow" href="https://thebittimes.com/tag/fiscal.html">fiscal</a> year 2023, the U.S. Securities and Exchange Commission (SEC) filed 784 enforcement actions and received $4.9 billion in penalties.</p>
 <p>Of this amount, the SEC distributed $930 million among the affected investors. During the reporting period, the SEC received a record 18,000 reports of violations, which is almost 50% more than last year.</p>
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    <p>In FY 2023, the SEC filed 784 enforcement actions, obtained orders for nearly $5 billion in financial remedies, and distributed nearly $1 billion to harmed investors.<br> <br>Read more about our Enforcement results for FY 2023: https://t.co/zDgxp1N3qy</p>— U.S. Securities and Exchange Commission (@SECGov) November 14, 2023
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 <p>In total, more than 40,000 complaints and requests were sent to the regulator. The agency paid over $600 million to informants who reported illegal activities.</p>
 <p>Among the largest fines is a $400 million settlement from Wells Fargo, HSBC and Scotia Capital for violations of federal record-keeping and customer protection requirements. Also listed in SEC filings is $178.6 million from Danske Bank for misleading investors about its anti-money laundering program.</p>
 <p>The SEC used its criminal asset freeze powers twice in 2023. First against a Florida resident for creating a $100 million pyramid scheme, and then against Miami-based investment consultant BKCoin Management in connection with a $100 million crypto scam.</p>
 <p>The SEC report said that major crypto fraud charges were filed during the year, particularly against the company&nbsp;Terraform Labs&nbsp;and its founder Do Kwon, Richard Hurt&nbsp;and three companies he controls – Hex, PulseChain and PulseX and FTX CEO Sam Bankman-Fried and other firm executives.</p>
 <p>It also noted lawsuits against companies that allegedly offered unregistered securities through crypto asset lending or staking programs.</p>
 <div class="cn-block-related-link"><span> You might also like: </span> FTX auditor Prager hit with lawsuit by SEC
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/sec-rakes-in-5b-in-2023-fiscal-year-claims-tbt70418.html">https://thebittimes.com/sec-rakes-in-5b-in-2023-fiscal-year-claims-tbt70418.html</a></p>

SEC rakes in $5b in 2023 fiscal year claims

TheBitTimes

Other articles published on Nov 15, 2023

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