SEC Fines Surge on Biden Enforcements Now Shifting Under Trump

US Securities and Exchange Commission fines and investor relief doubled to $17.9 billion in the 2025 fiscal year, a surge bolstered by enforcement actions at the end of the Biden administration that likely won’t continue as priorities shift under President Donald Trump.

The Wall Street watchdog levied $7.2 billion in civil penalties and ordered a return of $10.8 billion in illegal profits in the year ended Sept. 30, the SEC said in a report published Tuesday. That’s up from $2.1 billion in civil fines and $6.1 billion of disgorgements a year earlier.

SEC Chairman Paul Atkins, ...