Pollack Center for Law & Business

SEED - SEC Enforcement Actions Database

The Securities Enforcement Empirical Database (SEED) tracks and records information for SEC enforcement actions filed against public companies traded on major U.S. exchanges and their subsidiaries. Created by the NYU Pollack Center for Law & Business in cooperation with Cornerstone Research, SEED facilitates the analysis and reporting of SEC enforcement actions through regular updates of new filings and settlement information for ongoing enforcement actions. The variables tracked include defendant names and types, violations, venues, and resolutions. 

Our goal is to shed light on the SEC’s securities law enforcement decisions.  SEED is the first public database to provide easily searchable and verified data to researchers, counsel, and corporations, as well as regular reports on developments and trends.
-- Professor Stephen Choi, Director of the Pollack Center for Law & Business.

Public Company and Related Subsidiary Actions by Enforcement Venue Small

SEC Enforcement Activity Against Public Companies and Their Subsidiaries Midyear FY 2016 Update (May 17, 2016)

SEC Enforcement Activity Against Public Public Companies and Their Subsidiaries Midyear FY 2016 UpdateThis report may be viewed here.  Key findings include:

  • Actions against public company defendants have been relatively stable over the past six fiscal years, while actions against public company subsidiary defendants (related subsidiary defendants) rose in FY 2015 and the first half of FY 2016.
  • The majority of enforcement actions against related subsidiary defendants focus on financial services firms.  The data show that the SEC has brought charges against subsidiaries of financial firms more often than the publicly traded parent company.
  • In FY 2015 and the first half of FY 2016, actions against public company and related subsidiary defendants with Municipal Securities/Public Pension allegations increased, while the share of cases alleging violations of Issuer Reporting and Disclosure provisions declined compared with the previous five fiscal years.
  • The SEC continued to use its administrative proceeding forum in the vast majority of the actions analyzed.  In the first half of FY 2016, the SEC brought 88 percent of actions against public company and related subsidiary defendants as administrative proceedings.
  • In the first half of FY 2016, 98 percent of public company and related subsidiary defendants resolved SEC actions on the same day they were initiated.
  • Between FY 2010 and the first half of FY 2016, the top 10 monetary settlements by public company and related subsidiary defendants ranged from $175 million to $550 million.  Seven of these occurred in administrative proceedings, while three were in civil actions.

Previous Reports

SEC Enforcement Activity Against Public Company Defendants

SEC Enforcement Activity Against Public Company Defendants: Fiscal Years 2010-2015 Research Report (January 12, 2016)

 

 

 

 


This project is a collaboration between these organizations:

NYU Law Logo NYU Stern logo Cornerstone Logo

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Pollack Center for Law & Business 

For press inquiries about NYU, please contact Michael Orey at Michael.Orey@nyu.edu.

For information about this site, including access for academic scholars, please contact law.seed@nyu.edu.


Cornerstone Research 

For press inquiries about Cornerstone Research, please contact Terri Viera at tviera@cornerstone.com.

For information about Cornerstone Research materials on this site, please contact sec_research@cornerstone.com.


SEED Research Report 

To view the recently released report on SEC Enforcement Activity Against Public Companies and Their Subsidiaries, please click here.