SEC FY 2025 Review: A transformative year in SEC enforcement - White & Case LLP

When Paul Atkins assumed the role of Chairman of the US Securities and Exchange Commission (SEC) last April, we anticipated a significant transformation in the Commission’s enforcement strategy, as a leaner, more streamlined organization prioritized traditional enforcement areas such as fraud targeting retail investors and insider trading. Now, eight months into his tenure, these predictions have largely materialized. The SEC enforcement activity in fiscal year 2025 dropped to levels not seen in over a decade. According to a report by Cornerstone Research, the SEC brought 313 cases in fiscal y

When Paul Atkins assumed the role of Chairman of the US Securities and Exchange Commission (SEC) last April, we anticipated a significant transformation in the Commission’s enforcement strategy, as a leaner, more streamlined organization prioritized traditional enforcement areas such as fraud targeting retail investors and insider trading. Now, eight months into his tenure, these predictions have largely materialized. The SEC enforcement activity in fiscal year 2025 dropped to levels not seen in over a decade. According to a report by Cornerstone Research, the SEC brought 313 cases in fiscal y