Gary Gensler’s Parting Gift: The SEC contributed $8.2 billion this year to a Treasury Department that’s going to need it. (Above the Law blog, JON SHAZAR NOV 25, 2024)

Kudos!  Magnificent! Three cheers for our outgoing United States Securities and Exchange Commission Chairman Gary Gensler, whose agency recovered a record $8.2 billion in fines and penalties from wicked evil corporate fraudfeasors.  Salud!  What's next, DJT's thugs want to erase entire federal agencies dedicated to protecting us, starting with the Consumer Financial Protection Bureau, the bete noire pf financial flummery fraudfeasors. Watch these people, fondly remembering with that late former SEC Chair Joseph P. Kennedy, Sr., once said, self-owning his own controversial corporate piratical history: "All businessmen are sons of bitches.") From the Above the Law blog:

Gary Gensler’s Parting Gift The SEC contributed $8.2 billion this year to a Treasury Department that’s going to need it. (Jon Shazar, Above the Law blog, November 25, 2024)

Gary Gensler’s Parting Gift

The SEC contributed $8.2 billion this year to a Treasury Department that’s going to need it.

• JON SHAZAR
• NOV 25, 2024
• JON SHAZAR
• NOV 25, 2024

US government, Public domain, via Wikimedia Commons

Gary Gensler spent three-and-a-half years setting a Gehrig-esque record for regulatory endurance at the Securities and Exchange Commission (and forcing his staff to keep up a similar pace). Now, as he prepares to leave the chair to someone no doubt much less inclined to hard work, he’s setting a final all-time mark, one all but certain to stand for at least four years.

The Securities and Exchange Commission said it collected $8.2 billion in monetary penalties for the fiscal year 2024, the highest amount for the fines in the regulator’s history.

The record amount imposed in financial penalties—two-thirds more than the $4.9 billion collected in fiscal year 2023—caps the tenure of agency Chair Gary Gensler, who said he plans to step down in January once President-elect Donald Trump takes office….

The SEC also barred 124 individuals from serving as officers and directors of public companies, the second-highest number in a decade.

SEC Collects Record $8.2 Billion in Financial Penalties in 2024 [WSJ]

For more of the latest in litigation, regulation, deals and financial services trends, sign up for Finance Docket, a partnership between Breaking Media publications Above the Law and Dealbreaker.