SEC Enforcement co-directors Stephanie Avakian and Steven Peikin proclaimed fiscal year 2017 a rousing SUCCESS! If you don’t believe it, just look at the numbers (for year ended September 30, 2017):

• The SEC brought 754 enforcement actions in FY 2017.

►      The SEC brought 868 enforcement actions in FY 2016.

• The SEC brought 446 standalone actions in FY 2017.

►      The SEC brought 548 standalone actions in FY 2016.

• The SEC raised $3.8Bn in penalties and disgorgement in FY 2017.

►      The SEC raised $4.1Bn in penalties and disgorgement in FY 2016.

• The top 5% largest cases accounted for $2.6Bn in penalties and disgorgement in FY 2017.

►      The top 5% largest cases accounted for $2.8Bn in penalties and disgorgement in FY 2016.

• The SEC brought 135 standalone actions against RIAs, RICs, and B/Ds in FY 2017.

►      The SEC brought 159 standalone actions against RIAs, RICs, and B/Ds in FY 2016.

• The largest penalty issued against a financial institution was $90Mn in FY 2017 (Credit Suisse).

►      The largest penalty issued against a financial institution was $358Mn in FY 2016 (Merrill Lynch).

• The SEC distributed $1.1Bn to harmed investors in FY 2017.

►      The SEC distributed $140Mn to harmed investors in FY 2017.

Oh well, perhaps their assessment was overly optimistic by a tad. Maybe I'll just recheck those numbers in the Division of Enforcement's Annual Report.