The SEC brought 434 stand-alone enforcement actions in 2021, a 7% increase from fiscal year 2020. Despite that increase, the SEC obtained a total of only $3.85 billion in relief, a substantial drop from the approximately $4.7 billion ordered in fiscal year 2020. 2021 also saw the SEC’s whistleblower program surpass a milestone $1 billion in total amounts awarded since the program’s inception, with the SEC issuing 108 awards that totaled $564 million in fiscal year 2021.
As the new administration moves into its first full fiscal year and the world continues to face the challenges of the ongoing COVID-19 pandemic, the SEC is expected to show a continued focus on traditional areas of enforcement in 2022, including securities offerings, accounting and auditing actions, and investment adviser and investment company issues. The SEC is also expected to prioritize investigation and enforcement of emerging risks, such as digital assets and special purpose acquisition companies (“SPACs”). Additionally, with continued whistleblower activity and the disgorgement authority granted to the SEC under the National Defense Authorization Act, the total relief ordered is probable to rise in fiscal year 2022.
Director/Officer | Role | Company |
Marco "Sully" Perez | President | Permian Basin Proppants, Inc. |
Andrew Murstein | President, COO | Medallion Financial Corp. |
Usama Malik | Former CFO | Immunomedics, Inc. |
Lawrence Meyers | CEO, CFO | Ichabod’s Cranium, Inc. |
Jason Boucher | Former CFO | American Renal Associates Holdings, Inc. |
Jonathan Wilcox | Former CFO | American Renal Associates Holdings, Inc. |
Karen Smith | Former Controller | American Renal Associates Holdings, Inc. |
Amount | Director/Officer | Role | Company |
$2,215,764.31 | David H. Hansen | Former President and CEO | Yellowstone Partners, LLC |
$350,000.00 | Tom Simeo | Former Chairman and CEO | Viking Energy Group, Inc. |
$65,000.00 | David H. Miller | CEO | PeachCap, Inc. |
Source: U.S. Securities and Exchange Commission