A former KPMG partner who had been charged by the Securities and Exchange Commission with insider trading has been ordered to pay a civil penalty of $125,000 and suspended from appearing or practicing before the Commission as an attorney or accountant.
On Aug. 2, in addition to ordering the civil penalty, the court entered an order permanently enjoining Thomas Avent from violating the anti-fraud provisions of Sections 10(b) and 14(e) of the Securities Exchange Act of 1934 and Rules 10b-5 and 14e-3.
