SEC Press Releases

SEC Announces Enforcement Results for Fiscal Year 2025

The SEC announced enforcement results for FY2025, reporting 456 total enforcement actions including 303 standalone actions and 69 follow-on administrative proceedings, with $17.9 billion in total monetary relief ordered. The Commission stated it refocused enforcement on direct investor protection, moving away from cases lacking demonstrated investor harm such as certain book-and-record violations.

Options Market Structure Roundtable Agenda

The SEC announced the agenda and panelists for its April 16, 2026 roundtable on options market structure. The roundtable will be held at SEC headquarters in Washington D.C. and webcast live. Three panels will discuss competition in quote-driven markets, customer experience with listed options, and growth challenges in the options market.

SEC Approves Amendment to NMS Plan to Reduce Consolidated Audit Trail Costs

The SEC approved an amendment to the National Market System Plan for the Consolidated Audit Trail (CAT) to reduce operational costs. The amendment is estimated to save $50-70 million annually by implementing measures such as deleting older data and relaxing certain reporting requirements.

SEC Clarifies Securities Laws for Crypto Assets

The SEC, joined by the CFTC, issued an interpretation clarifying the application of federal securities laws to crypto assets. The guidance provides a token taxonomy and addresses how crypto assets may become subject to or cease to be subject to investment contracts, impacting various crypto transactions.

SEC Publishes Data on Offerings, Advisors, Agents, Swap Dealers

The SEC's Division of Economic and Risk Analysis has published a report on security-based swap dealers and updated data visualizations for various market activities in 2025. The updates include statistics on IPOs, registered offerings, municipal advisors, and swap dealers, aiming to increase transparency for investors and issuers.

SEC Proposes Amendments to Exchange Act Rule 15c2-11

The SEC has proposed amendments to Exchange Act Rule 15c2-11, which governs information requirements for broker-dealers quoting securities in the OTC market. The proposed changes would clarify that the rule applies only to equity securities.

SEC Enforcement Director Margaret Ryan Resigns; Sam Waldon Named Acting Director

The Securities and Exchange Commission (SEC) announced that Margaret A. Ryan has resigned as Director of the Division of Enforcement. Principal Deputy Director Sam Waldon has been named Acting Director, effective March 16, 2026. The SEC noted progress in reprioritizing enforcement cases towards fraud and investor harm.

SEC and CFTC Announce Inter-Agency Coordination MOU

The SEC and CFTC have signed a Memorandum of Understanding to enhance coordination and collaboration between the agencies. This agreement aims to support lawful innovation, uphold market integrity, and protect investors and customers by harmonizing regulatory definitions and coordinating oversight.

SEC Investor Advisory Committee Meeting on Disclosure Reform and Tokenization

The SEC's Investor Advisory Committee will hold a public meeting on March 12, 2026, to discuss public company disclosure reform, fund proxy voting, and a potential recommendation on the tokenization of equity securities. The meeting will be webcast and include panel discussions on these topics.

SEC Hosts Roundtable on Options Market Structure Reform

The SEC announced it will host a roundtable on April 16, 2026, to discuss listed options market structure. The event aims to foster dialogue on competition, customer experience, and growth opportunities in the options market. Public comments are being accepted.