The SEC has released its enforcement report for 2024, showing a decrease in the number of cases but significant fines and funds recovered. The SEC filed 583 enforcement actions, a 26% decrease from the previous year, but managed to recover $8.2 billion. Disgorgements accounted for $6.1 billion, while civil penalties reached $2.1 billion, with the Terraform Labs case contributing greatly to the total. The SEC is encouraging firms to report issues early and rewarding good behavior. The crypto industry faced significant enforcement actions, including Terraform Labs, HyperFund, and NovaTech. The SEC is also cracking down on emerging tech scams, such as QZ Asset Management's misleading AI-driven investment strategies. Traditional finance also faced consequences, with Morgan Stanley fined $249 million and SAP paying $98 million. Whistleblowers played a significant role, with over 45,000 tips received and $255 million awarded in payouts. Individual accountability was emphasized, with 124 executives barred from serving in public companies. The takeaway is that crypto fraud and AI scams will remain on the SEC's radar, and investors should stay alert. The SEC shows no signs of slowing down under new leadership.



Other News from Today