On November 2, 2020, the U.S. Securities and Exchange Commission’s Division of Enforcement released its 2020 Annual Report, summarizing its priorities, activities, and results for its 2020 fiscal year, which ended September 30, 2020. The Division’s Director, Stephanie Avakian, described the year as “the most challenging year in recent memory” due to the disruptions resulting from COVID-19. She also described 2020 as a “year of contrasts” that saw a slight decline in the total number of cases filed but also a record high amount of financial remedies and whistleblower awards.  Key highlights of the 52-page Report are summarized below.