The SEC just issued a press release announcing that they filed a record number of enforcement cases in the 2014 fiscal year that ended September 30. The SEC reported that it filed 755 enforcement actions during this time frame as compared to 686 and 734 in the prior two years. The SEC obtained orders totaling $4.16 Billion in disgorgement and penalties as compared to $3.4 Billion and $3.1 Billion for 2013 and 2012. The SEC highlighted cases against investment advisers and investment companies including cases against a private equity firm for misallocation of expenses. Andrew J. Ceresney, Director of the SEC’s Division of Enforcement stated, “I am proud of our excellent record of success and look forward to another year filled with high-impact enforcement actions.” Please click here to read the full story.
If you have any questions or concerns regarding your compliance program, Red Oak Compliance Solutions is here to help you enhance your compliance program and help keep you away from any questionable activity.
About Red Oak Compliance Solutions
Red Oak Compliance Solutions is the global advertising review software of choice in the financial services industry. It is a comprehensive suite of SEC 17A-4 compliant features that are 100% books and records compliant and provides clients with 35% faster approvals and 70% fewer touches or better. We also offer Smart Review(SM), which solves for the storage and maintenance of disclosures, helping firms reduce risk, decrease review times, and increase the speed of distribution of marketing materials. Smart Registration(SM) automates the licensing and registration management process to help reduce regulatory risk and time spent on manual processes. Overall, Red Oak allows firms to minimize risk, reduce costs, and increase compliance review process effectiveness and efficiencies.