The SEC yesterday announced its enforcement results for FY 2013, which ended in September.  The amount of disgorgement and penalties the SEC obtained increased from $3.1 billion in FY 2012 to $3.4 billion in FY 2013–an approximately 10% increase.  The number of enforcement actions the SEC brought, however, declined from 734 in FY 2012 to 686 in FY 2013–an approximately 7% decline.  Notably, the SEC does not collect all disgorgement and penalties for which it obtains orders.