The Securities and Exchange Commission (SEC) has released its fiscal year 2024 enforcement results, spotlighting significant strides in accountability and market integrity. Despite filing fewer cases—583 enforcement actions, a 26% drop from the previous year—the SEC secured a record-breaking $8.2 billion in financial remedies, underscoring its impact on deterring misconduct.
Notably, this year saw a shift toward proactive compliance, with more market participants self-reporting violations and cooperating with investigations. This cultural change signals an evolving emphasis on compliance across the financial sector.
Among the highlights was the landmark case against Terraform Labs and its founder, Do Kwon, resulting in over $4.5 billion in remedies. The SEC also focused on emerging threats like artificial intelligence misuse and social media investment scams, alongside traditional risks such as financial misstatements and inadequate internal controls.
Chair Gary Gensler emphasized the importance of building trust through enforcement and fostering a culture of compliance. “We’re seeing more market participants step up,” he noted, reflecting the SEC’s vision of a trustworthy and transparent market ecosystem.
The Commission also prioritized protecting whistleblowers, issuing its largest penalty yet—$18 million against J.P. Morgan for violating whistleblower protections. High-profile individual accountability cases, including actions against senior executives, further demonstrated the SEC’s commitment to investor protection and leadership responsibility.
The fiscal year 2024 results reaffirm the SEC’s role in promoting transparency, safeguarding investors, and adapting to emerging risks in a rapidly evolving financial landscape. For firms, the message is clear: compliance isn’t optional—it’s a critical element of sustainable success in today’s market.