Wall Street Fines Fall 18% in First Year of Biden Administration

WASHINGTON—Enforcement fines levied against Wall Street firms and public companies fell 18% in the first year of the Biden administration, according to newly released statistics.

The Securities and Exchange Commission obtained $3.9 billion in fines during its latest fiscal year, which ended in September. The SEC set a record for fines imposed through its civil enforcement actions in 2020, when the total surpassed $4.6 billion.