Brattle Report: SEC Enforcement Actions in FY26 Remain Below Historical Averages Despite Late-Year Increase
The US Securities and Exchange Commission (SEC) filed 308 enforcement actions in fiscal year 2026, according to a report by The Brattle Group. This number is significantly lower—57% below the annual average of 710 from FY18–FY25. While there was an increase in activity during the second half of the year, including 99 actions filed in September alone, it still fell short compared to previous years' data. The report attributes this slowdown to several factors such as a government shutdown at the start of FY26 and changes within the Enforcement Division. Despite these challenges, enforcement filings rose from 93 in the first half to 215 in the second half. The most common allegations were related to securities offerings and delinquent filings, each accounting for about one-fifth of all actions. The report also notes a rise in insider trading cases since FY18 and suggests that while there may be some improvement expected in FY27 with 350–450 enforcement actions projected, this would still remain below historical averages. The full analysis is available on Brattle's website.
Topics: enforcement actions government shutdown SEC staffing levels
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Part of the story Brattle Report: SEC Enforcement Actions in FY26 Remain Below Historical Averages Despite Late-Year Increase (3 articles)