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For the Securities and Exchange Commission(SEC) 2023 has been a busy year, pushing through controversial legislation least of all for cybersecurity. It has also been a profitable year as the SEC enforcement division. The SEC obtained orders for nearly $5 Billion in financial remedies, filed over 780 enforcement actions and 162 actions seeking to bar individuals from certain functions.
2023 is also a record breaking year for the SECs whistleblower program. Awarding $600 million to whistleblowers, including $279Million paid to a single whistleblower. Following 18,000 whistleblower tips, a 50% increase on 2022.
One could say that 2023 has been a year where the costs to run the SEC has been significantly less that he monies the SEC has returned to investors. One wonders what 2024 will look like, as various regulations including the Final Cyber rule take effect?
Ted Dziekanowski Brian D. McCarthy Rachel V. Rose, JD, MBA Bob Dix
#theagustagroup #cybersecurity #cyberriskmanagement #securitiesandexchangecommission
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