Client Alert: Highlights from the SEC Division of Enforcement FY 2020 Annual Report

On November 2, 2020, the SEC’s Division of Enforcement (Division) published its Annual Report for Fiscal Year 2020 (October 1, 2019 to September 30, 2020), available here (Annual Report). The Division began FY20 with the same focus as in previous years—protect retail investors and preserve market integrity. But the Division faced unique challenges in FY20, including the departure of Steven Peikin, former Division Co-Director, and the imposition of mandatory telework for the second half of the fiscal year caused by the COVID-19 pandemic. Despite these and other challenges, the Division remained firm in its commitment to protect investors and maintain market integrity by enforcing federal securities laws.