The agency filed a total of 146 enforcement actions related to investment advisors and investment companies which was a 30% increase over 2010 and it brought 112 enforcement actions related to broker-dealers, which was a 60% increase over last year.

Those charged in SEC investment advisor and broker dealer actions were Charles Schwab, AXA Rosenberg Group, and Merrill Lynch. The Schwab entities paid more than US$118 million to settle the SEC’s charges, while AXA Rosenberg paid US$217 million to cover investor losses and a US$25 million penalty.

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The other cases included 89 for financial fraud or disclosure violations, 57 insider trading cases, and 15 related to alleged wrongdoing during the financial crisis.

During the 2009-2010 period the agency underwent restructuring that included flattening management structure; revamping the handling of tips and complaints; facilitating swift prosecution of wrongdoers through a formal program that encourages cooperation from individuals and companies in SEC investigations; and creating national specialized units in five priority areas involving complex and higher risk areas of potential securities laws violations.

The record number of enforcement actions is proof of the changes introduced and in one year the agency has recorded more than US$2.8 billion in penalties and disgorgement ordered in FY 2011 SEC enforcement actions, said the agency.

"We continue to build an unmatched record of holding wrongdoers accountable and returning money to harmed investors," said SEC chairman Mary Schapiro.

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