The Wall Street Journal reports: "Penalties levied by the Securities and Exchange Commission dropped to a four-year low during the latest fiscal year, showing how a more friendly tone from regulators and the transition of political power can yield relief for Wall Street. Total penalties ordered through SEC enforcement actions fell 15.5% last year to about $3.5 billion, the lowest total since 2013, according to figures prepared by Georgetown University law professor Urska Velikonja. The total number of cases declined 17%, and was the lowest since at least 2013, according to Ms. Velikonja’s research. The reduction shows how a change at the top of Wall Street’s top regulator can affect the volume of prodigious enforcement settlements."
The full article (behind a paywall) is here.