Ex-Marcum partner suspended by SEC over Ault Alliance work
By 
Kyle Brasseur2023-09-28T17:44:00
A former engagement quality review partner at Marcum agreed to pay a $30,000 penalty and be suspended as part of a settlement with the Securities and Exchange Commission (SEC) addressing alleged violations of audit standards in his work at diversified holding company Ault Alliance.
Michael Messina consented to a two-year suspension on appearing and practicing before the SEC as an accountant, the agency announced in an administrative proceeding Monday.
In August, Ault Alliance agreed to pay $700,000 as part of a settlement with the SEC addressing allegations of misleading disclosures and reporting violations.
Related articles
-
News BriefSkechers fined $1.25M over related person disclosure failures
Footwear company Skechers agreed to pay $1.25 million to settle charges by the Securities and Exchange Commission of failing to disclose payments to executives’ family members.
-
News BriefSEC accuses Prager Metis of hundreds of auditor independence violations
Accounting firm Prager Metis violated auditor independence rules through use of indemnification provisions in its engagement letters hundreds of times during a period of nearly three years, the Securities and Exchange Commission charged in a lawsuit.
-
News BriefSEC fines former Marcum partner for causing control failures
An ex-partner at Marcum agreed to pay $75,000 to settle charges by the Securities and Exchange Commission he failed to remediate numerous quality control deficiencies magnified by the audit firm’s special purpose acquisition company client boom.
More from Regulatory Enforcement
-
News BriefU.S. regulators scrutinizing American companies’ transactions with Chinese firms
Recent enforcement actions by U.S. agencies overseeing customs payments and export control laws indicate increased scrutiny of business transactions between U.S. and Chinese companies.
-
News BriefSEC reportedly denying record percentage of whistleblower claims
The Securities and Exchange Commission is awarding far fewer whistleblower claims, according to Bloomberg Law, which noted the commission denied awards for the entire period between April and July, the longest stretch in the program’s history.
-
News BriefTrump’s firing of FTC commissioner violated federal law, court finds
The firing of a Democrat commissioner of the U.S. Federal Trade Commission by President Donald Trump was illegal, according to a federal judge’s ruling last week.