The SEC’s Division of Enforcement (Division) has released its fourth Annual Report (Report). The Report covers the SEC’s 2020 fiscal year (FY 2020). It discusses the Division’s response to the coronavirus pandemic; its efforts to streamline operations; and the continuing success of the SEC’s whistleblower program. The Report also provides an overview of the Division’s 715 enforcement proceedings in FY 2020, which yielded $4.68 billion in total monetary relief and $602 million in anticipated payments to affected investors. This article discusses the key takeaways from the Report and the accompanying message from Stephanie Avakian, then‑Director of the Division. For coverage of previous Division’s first three reports, see 2017 Report, 2018 Report and 2019 Report.