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SEC reports enforcements in fiscal 2012 nearly match previous year's record level

Nov 15 2012 Stuart Gittleman, Compliance Complete

The Securities and Exchange Commission filed more enforcement actions in the past two years than in any two prior years, and more of the cases involved highly complex products, transactions or practices, the commission said Wednesday. The SEC said it filed 734 actions in the fiscal year ending September 30, one fewer than last year's record of 735, and obtained orders in the past two years requiring the payment of $5.9 billion in penalties and disgorgement for the benefit of harmed investors. "The record of performance is a testament to the professionalism and perseverance of the staff and the innovative reforms put in place over the past few years. We've now brought more enforcement actions in each of the last two years than ever before including some of the most complex cases we've ever seen," said SEC Chairman Mary L. Schapiro. The SEC said it filed 134 actions involving broker-dealers, 19 percent over last year, and two first-of-their-kind actions against trading venues. The

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