BLOCKCHAIN LAW GROUP

Where Technology Meets Law
SEC published its fiscal year 2020 annual report
On November 2nd, the SEC published an annual report summarizing its enforcement efforts taken during the fiscal year 2020.

Overall, in the fiscal year 2020, the SEC brought 715 enforcement actions, including 405 standalone actions. Cases included a variety of violations such as the issuer disclosure and accounting violations; foreign bribery; investment advisory issues; securities offerings; market manipulation; insider trading; and broker-dealer misconduct. Besides, this year the SEC had to face the new COVID-19 related wrongdoings.

As a result of its efforts, the SEC obtained judgments and orders totaling approximately $4.68 billion in disgorgement and penalties and returned more than $600 million to harmed investors. In addition, the SEC awarded a record $175 million to 39 whistleblowers. It is both the highest dollar amount and the highest number of individuals awarded in any fiscal year.

Among all enforcement actions, there was a number of cases that the SEC brought against the blockchain companies; all of them related to the unlawfully conducted ICO. You can find more information about them in our monthly review published in Crypto World Journal.



Summarized by Katrina Arden
Attorney and founder of Blockchain Law Group
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