A report tallying SEC enforcement actions in 2016 shows the top trends and areas targeted by the agency. The report highlighted the year’s multi-million dollar whistle blower awards and noted that the SEC reported over 4,200 whistle blowing tips in the fiscal year, up more than 40% since the whistle blower program’s first full year in 2012. The report also noted that the SEC increased scrutiny of independent auditors. With respect to investment advisers, the report noted that fees and expenses, disclosures and conflicts of interest continued to be top areas of focus for enforcement action.