SEC Writes Off $10 Billion in Fines It Can't Collect

The Securities and Exchange Commission wrote off nearly $10 billion in uncollected fines over the past decade, with $1.4 billion written off in 2023 alone, WSJ reported, citing internal data. While the agency reported $4.9 billion in sanctions last year, it typically collects only two-thirds of imposed penalties. The SEC stopped disclosing collection rates in 2019. In fiscal 2024, it collected just 23% of $8.2 billion in reported sanctions, including a $4.4 billion judgment against cryptocurrency firm Terraform Labs that will likely go unpaid due to bankruptcy proceedings.

Read more of this story at Slashdot.