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2023 Year-end toolkit: Lessons learned from SEC enforcement
Publication date: 25 Jan 2024
us Podcast
To wrap-up our Year-end toolkit series, we highlight trends noted and lessons learned in SEC enforcement actions in 2023.
In each episode of our Year-end toolkit series, our guests share insights on key areas of the year-end accounting and reporting process.
This week, host Heather Horn is joined by Pete Driscoll, PwC National Office partner, to break down the SEC’s 2023 enforcement action results, which set a record with 784 enforcement actions filed in 2023. Pete unpacks the themes and trends within those enforcement actions and shares advice on what companies can do to avoid some common pitfalls.
Listener note: Although we summarize key themes from allegations as described by SEC orders and complaints, it is important to note that companies have neither admitted nor denied wrongdoing in these cases.
In this episode, you will hear:
- 2:15 - Key themes in the SEC's 2023 enforcement action results, including a discussion of the SEC’s priorities and approach to enforcement
- 11:10 - A discussion of the increased focus on cybersecurity, including rulemaking considerations
- 12:30 - An analysis of financial reporting and misstatement cases, including internal control considerations
- 18:50 - Insight into the SEC's interest in the digital asset space, including cases involving cryptocurrencies and non-fungible tokens (NFTs)
- 23:30 - The importance of maintaining adequate books and records, including a discussion of cases brought in this area
- 27:20 - Final insights on the long-term implications of SEC enforcement actions and advice for companies reviewing their business practices
About our guest
Pete Driscoll is a partner in PwC’s National Office focusing on SEC regulations, reporting, and compliance. Prior to his role at PwC, Pete held several roles at the SEC, including Director of the Division of Examinations and Chief Risk and Strategy Officer.
About our host
Heather Horn is PwC’s National Office thought leader, responsible for developing our communications strategy and conveying firm positions on accounting and financial reporting matters. She is the engaging host of PwC’s accounting and reporting weekly podcast and quarterly webcast series. With over 30 years of experience, Heather’s accounting and auditing expertise includes financial instruments and rate-regulated accounting.
Follow this podcast on your favorite podcast app for other episodes in our Year-end toolkit series.
Transcripts available upon request for individuals who may need a disability related accommodation. Please send requests to us_podcast@pwc.com.
PwC. All rights reserved. PwC refers to the US member firm or one of its subsidiaries or affiliates, and may sometimes refer to the PwC network. Each member firm is a separate legal entity. Please see www.pwc.com/structure for further details. This content is for general information purposes only, and should not be used as a substitute for consultation with professional advisors.
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