As it is often the company that gets fined by the SEC, ultimately those fines are paid by the shareholders because it comes out of the companies profits.

Question

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When a company is fined by the SEC, the amount of the fine is typically deducted from the company's profits, which reduces the amount of money available for distribution to shareholders. As a result, shareholders indirectly bear the cost of the fine.

As It Is Often the Company That Gets Fined by the SEC