The SEC Chairman announced testimony to the House: Fines and recoveries reached $4.9 billion in fiscal year 2023

ChainCatcher News, the U.S. Securities and Exchange Commission (SEC) Gary Gensler announced the full text of his testimony before the U.S. House Financial Services Committee.

It disclosed that the work of the enforcement division is at the core of the SEC's investor protection responsibilities. In fiscal year 2023, the SEC took 784 enforcement actions, with fines and recoveries totaling $4.9 billion. Whenever possible, civil penalties and recoveries obtained by the SEC in civil enforcement actions will be returned to the harmed investors, with $930 million allocated to harmed investors in fiscal year 2023.