SEC Sanctions Database
Complementing our professionals’ experience in the halls of federal law enforcement and in the trenches of high-profile and high-stakes securities litigation, our success is driven by a highly disciplined qualitative and quantitative approach to client advocacy. We have pioneered a sophisticated approach to case analysis and development that leverages proprietary securities research and our world-class team of in-house investigators, financial analysts, and forensic accountants.
This SEC Sanctions Database is another tool in our arsenal.
To better serve our clients, we have conducted a systematic and detailed analysis of SEC enforcement actions and have made some of this important information available to the public in a first-of-its-kind searchable database with an interactive mapping function. This powerful tool provides valuable information about successful SEC enforcement actions involving six of the most common violations – Offering Fraud, Trading & Pricing, Foreign Corrupt Practices Act, Municipal Securities, Financial Fraud and Market Manipulation – that resulted in monetary sanctions in excess of $1 million, the minimum eligibility threshold for the SEC Whistleblower Program. The data includes enforcement actions from the enactment of the Sarbanes-Oxley Act in 2002 through April 2012 and can be searched by defendant, region, amount of monetary sanction and type of violation. For definitions and other helpful information about common securities violations, you may wish to read our Securities Law Primer.
Blowing the whistle, internally or externally, requires great courage. Potential whistleblowers deserve knowledgeable and objective legal counsel about whether, how and when to report possible securities violations so that they can make this important decision with confidence.
All information assembled in Labaton Sucharow’s SEC Sanctions Database was derived from the SEC’s public announcements of successful enforcement actions with monetary sanctions exceeding $1 million. Data was culled from enforcement actions announced between July 29, 2002 – April 30, 2012 in the areas of Offering Fraud, Trading & Pricing, Foreign Corrupt Practices Act, Municipal Securities, Financial Fraud and Market Manipulation. While some actions may involve multiple violations and may be characterized in different ways, we used our discretion to categorize the cases by type of violation. To establish regional identifiers, we assigned cases, using the location of the primary corporate defendant, to one of the following regions: South, West, Midwest and Northeast. Regional identifiers were only used for enforcement actions involving corporate defendants. The information contained in this database does not reflect monetary sanctions secured by other law enforcement and regulatory organizations in related enforcement actions. There also was no attempt to identify and aggregate past SEC enforcement actions that may have arisen out of the same nucleus of operative facts in order to meet the $1,000,000 monetary sanctions threshold which is now permitted by Rule 21F-4(d).
THIS SEARCH TOOL DOES NOT PROVIDE LEGAL ADVICE. It is intended for general informational purposes only. Please be advised that legal advice cannot be given without full consideration of all the unique facts and circumstances associated with your situation and the possible violations you wish to report.
Past monetary sanctions are not necessarily indicative of what future monetary sanctions would be in any particular case. Each SEC enforcement action is unique and there are numerous factors that contribute to the monetary sanction determination.
While every effort was made to ensure the accuracy of the information presented in this database, Labaton Sucharow cannot guarantee the accuracy of the information contained herein or the information contained in the referenced SEC releases. We are not responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on information published in this resource.
Ultimately, the decision to report possible securities violations, internally or externally, is an important one and should be carefully considered. You are strongly encouraged to consult with an attorney or independently research the applicable laws, precedents and any reporting options that may be available to you within your organization.