SEC Chair Gary Gensler will step down in January|Third Way Think|CC BY-NC-ND 2.0
The Securities and Exchange Commission (SEC) collected a record $8.2 billion in penalties for the year 2024, marking the highest amount in its history. The figure is 67% higher than 2023’s $4.9 billion.
The total includes $6.1 billion in disgorgement and interest and $2.1 billion in civil penalties.
Over half of the total stemmed from a penalty judgment against Terraform Labs and its ex-CEO, Do Kwon, following one of the largest securities frauds in US history.
The SEC also barred 124 individuals from serving as public company officers, the second-highest in a decade.
Despite a 26% drop in enforcement actions, the SEC imposed notable penalties, including a $249 million settlement with Morgan Stanley for disclosing confidential stock sale information.
SEC Chair Gary Gensler, who pushed for a strong crypto stance, plans to step down amid Donald Trump taking up the presidency in January.