SEC Tops $8.2 Billion From Enforcement Actions In 2024 Alone

The United States Securities and Exchange Commission (SEC) has racked up $8.2 billion worth of financial remedies under Chair Gary Gensler in 2024.

SEC Sees Multi-Billion Payout In Financial Remedies

The whopping $8.2 billion received by the regulator, which includes $6.1 billion in disgorgement and prejudgement interest and $2.1 billion in civil penalties, is the highest amount in SEC history.

Despite a 26 percent decline in enforcement actions year over year, the sum total of this year’s “financial remedies” is comprised of over 56 percent of fees stemming from Terraform Labs and Do Kwon’s $4.47 billion judgment back in June of this year as part of its fraud settlement.

SEC nets record $8.2B from enforcement, mostly from Terraform Labs. Without Terraform’s fine, the SEC would have collected $3.72B, which would have been its worst year for financial remedies since 2013. pic.twitter.com/13i6oaGNGc

— cryptothedoggy (@cryptothedoggy) November 25, 2024

“The Division of Enforcement is a steadfast cop on the beat, following the facts and the law wherever they lead to hold wrongdoers accountable,” SEC Chair Gary Gensler said in a recent statement. “As demonstrated by this year’s results, the Division helps promote the integrity of our capital markets to benefit investors and issuers alike.”

SEC Chair Gary Gensler To Step Down Come January

The news of the SEC’s annual report comes as the Gensler-led agency anticipates major changes going into the New Year, as President-elect Donald Trump plans to restructure several federal agencies.

Just last week, Gensler announced his resignation ahead of Trump’s inauguration in January.

“The Securities and Exchange Commission is a remarkable agency,” Gensler wrote in a farewell press release. “It has been an honor of a lifetime to serve with them on behalf of everyday Americans and ensure that our capital markets remain the best in the world.”

Shortly after Gensler’s announcement, SEC Commissioner Jaime Lizárraga announced his departure from the agency ahead of Trump’s administration.

“In reflecting on the challenges that lie ahead, we have decided that it is in the best interests of our family to close this chapter in my 34-year public service journey,” Lizárraga told Bloomberg on November 22. “Until my departure in January, I will remain fully engaged in the Commission’s ongoing work and activities.”

Trump, who previously pledged to fire Gensler upon his return to the Oval Office, has openly criticized the SEC for its regulation-by-enforcement approach to digital assets.

The former reality television star has long vowed to enact a crypto-friendly regulatory framework, most recently launching his family’s crypto platform, World Liberty Financial.

While Trump has yet to clarify who exactly he will select to spearhead the SEC under his administration, his choice will move the agency away from Gensler’s agenda.