SEC files 348 enforcement actions in Trump’s first full fiscal year, down about 25% from the previous year
The U.S. Securities and Exchange Commission (SEC) on November 10, 2026, released its enforcement results for fiscal year 2026, which ended on September 30, 2026. The fiscal year was the SEC’s first full fiscal year under the Trump administration, and the Commission filed a total of 348 enforcement actions.
These included 235 standalone actions and 113 “follow-on” administrative proceedings (intended to bar or suspend individuals from participating in certain securities market activities based on criminal convictions, civil injunctions or other bars). The SEC also imposed 13 trading suspensions involving suspected manipulation of securities issued by Asian issuers.
Compared with 456 actions in the previous fiscal year (fiscal year 2025), the number of actions fell by about 24%-25%. The SEC also obtained monetary remedies totaling about $1.095 billion, including $752 million in disgorgement and prejudgment interest and $343 million in civil penalties; and it returned about $731 million to more than 250,000 harmed investors.
SEC Chairman Paul S. Atkins said in a statement that enforcement success is ultimately measured by advancing the SEC’s mission, protecting investors, holding wrongdoers accountable and strengthening market confidence. The number of enforcement actions and the amount of penalties themselves are not the only or the most telling indicators.
Original source:
Title: SEC Announces Enforcement Annual Results for Fiscal Year 2026 Publisher: U.S. Securities and Exchange Commission (SEC official website) Publication date: 2026-11-10 URL: https://www.sec.gov/newsroom/press-releases/2026-113-sec-announces-enforcement-annual-results-fiscal-year-2026 Nature of source: official regulatory press release Verification status: obtained the core data of the full text in this report; consistent with Bloomberg and Reuters reports Supporting content: supports the 348 enforcement actions in fiscal year 2026, the comparison with the previous year, and the related monetary remedies and investor return figures
ABAB AI Insight
The 348 actions correspond to the SEC’s official full-fiscal-year statistics, including standalone actions and follow-on proceedings. The decline from 456 actions in fiscal year 2025 came against the backdrop of leadership changes, a government shutdown that paused investigations, and shifts in enforcement priorities. The official wording emphasizes a “back to basics” priority, focusing on traditional areas such as market manipulation, fraud and insider trading.
The total amount of penalties and disgorgement fell sharply from the previous year, partly because the prior year included large historical cases, such as judgments related to Ponzi schemes. The amount returned to investors instead increased, showing that relief enforcement and case counts do not move entirely in sync. A decline in the number of actions does not by itself equal a change in regulatory intensity; it should be viewed together with the types of cases involved, the number of investigations closed and actual market misconduct.
The current data reflect the results of a fiscal year that has already ended, rather than a prediction of future enforcement pace. Follow-up points to watch include changes in the share of standalone actions, the distribution of cases across focus areas, and continued adjustments to enforcement standards by the new leadership.
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The number of enforcement actions is one activity metric, and the official side also emphasizes the actual investor-protection effect.
Year-over-year comparisons should take into account the prior year’s special large cases and transitional-period factors.
Leadership changes and external interruptions may affect the action statistics for a single fiscal year.