(a) Authority to censure
The Commission may censure any person, or deny, temporarily or
permanently, to any person the privilege of appearing or practicing
before the Commission in any way, if that person is found by the
Commission, after notice and opportunity for hearing in the matter -
(1) not to possess the requisite qualifications to represent
others;
(2) to be lacking in character or integrity, or to have engaged
in unethical or improper professional conduct; or
(3) to have willfully violated, or willfully aided and abetted
the violation of, any provision of the securities laws or the
rules and regulations issued thereunder.
(b) Definition
With respect to any registered public accounting firm or
associated person, for purposes of this section, the term "improper
professional conduct" means -
(1) intentional or knowing conduct, including reckless conduct,
that results in a violation of applicable professional standards;
and
(2) negligent conduct in the form of -
(A) a single instance of highly unreasonable conduct that
results in a violation of applicable professional standards in
circumstances in which the registered public accounting firm or
associated person knows, or should know, that heightened
scrutiny is warranted; or
(B) repeated instances of unreasonable conduct, each
resulting in a violation of applicable professional standards,
that indicate a lack of competence to practice before the
Commission.
Email
Print