Vincente L. Martinez, Chief of Office of Market Intelligence, to Leave SEC
The Securities and Exchange Commission today announced that Vincente L. Martinez, Chief of the SEC’s Office of Market Intelligence is planning to leave the agency in early August. Mr. Martinez began working in the SEC’s Enforcement Division in 2003 as a staff attorney and senior counsel. He became one of the first Assistant Directors in the Office of Market Intelligence when it was formed in 2010 as part of a major restructuring of the Enforcement Division. Mr. Martinez left the SEC in 2011 to become the first Director of the Whistleblower Office at the Commodity Futures Trading Commission, and he…
Read MoreDeputy Chief Accountant Brian T. Croteau to Leave SEC
The Securities and Exchange Commission today announced that Brian T. Croteau, Deputy Chief Accountant, is planning to leave the agency. Since he was appointed Deputy Chief Accountant in 2010, Mr. Croteau has managed the activities of the Office of Chief Accountant’s Professional Practice group. In this position, Mr. Croteau has played a key role in the Commission’s work related to overseeing the activities of the Public Company Accounting Oversight Board (PCAOB), managing the resolution of auditor independence matters, monitoring and addressing matters related to requirements for internal control over financial reporting (ICFR), and monitoring audit and independence standard-setting internationally. “It…
Read MoreSEC Halts Ongoing Fraudulent Stock Scheme
/* Flex Video */ .flex-video { position: relative; /*padding-top: 1.5625em;*/ padding-bottom: 67.5%; height: 0; margin-top: 1em; overflow: hidden; } .flex-video.widescreen { padding-bottom: 56.25%; } .flex-video.vimeo { padding-top: 0; } .flex-video iframe, .flex-video object, .flex-video embed, .flex-video video { position: absolute; top: 0; left: 0; width: 100%; height: 100%; } The Securities and Exchange Commission today announced it has won a court-ordered asset freeze to halt an ongoing fraud by two former brokers with disciplinary histories who allegedly raised more than $5 million from investors without using the money as promised. In an emergency action filed in federal court in Chattanooga,…
Read MoreAccountant Suspended for Failing to Spot Fraud in Company Audit
The Securities and Exchange Commission today suspended an accountant for conducting a faulty audit of the financial statements of a public company that was committing fraud, and the firm where he was a partner at the time has been prohibited from accepting new public company clients for one year. New York-based accounting firm EFP Rotenberg LLP also agreed to pay a $100,000 penalty to settle the SEC’s charges, and it can only begin accepting new public company clients again next year after an independent consultant certifies that the firm has corrected the causes of its audit failures. The accountant, Nicholas…
Read MoreWesley R. Bricker Named Interim Chief Accountant
The Securities and Exchange Commission today announced that Wesley R. Bricker has been named the Commission’s Interim Chief Accountant responsible for the activities of the Office of the Chief Accountant as James V. Schnurr, current Chief Accountant, recovers from a serious bicycle accident. Mr. Bricker, as Interim Chief Accountant, will serve as the principal advisor to the Commission on accounting and auditing matters. He will also consult with registrants, auditors and other industry representatives, and be responsible for the oversight of the Financial Accounting Standards Board (FASB) and the Public Company Accounting Oversight Board (PCAOB), and carry out the other duties…
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