SEC censures Farber Hass Hurley over accounting exam deficiencies
By 
Jeff Dale2022-08-26T16:31:00
A California-based accounting firm and two of its partners settled charges with the Securities and Exchange Commission alleging “repeated failures” in conducting custody examinations for two SEC-registered investment advisers.
Farber Hass Hurley (FHH) and its partners Michel Abedian and Michael Hurley did not use proper attestation and compliance standards when conducting surprise examinations of clients, according to the SEC’s order filed Wednesday.
Without admitting or denying wrongdoing, FHH agreed to a censure. Abedian and Hurley agreed to be suspended from practicing before the SEC as accountants for two and one years, respectively. Upon reinstatement, both partners will be required to undergo independent reviews.
Related articles
-
Basic PageDOJ, EPA take legal action against the California Air Resources Board
The U.S. Department of Justice has filed two lawsuits against the California Air Resources Board, claiming it no longer has the legal right to enforce strict emissions rules for heavy-duty trucks.
-
News BriefSEC charges duo in $275 million water vending machine Ponzi scheme
The owner of a water machine vending company and a portfolio manager were allegedly behind a Ponzi-like scheme that raised more than $275 million, according to the U.S. Securities and Exchange Commission.
-
Basic Page‘Extraordinary cooperation’ pays off for PFS Investments
As regulators shift toward rewarding transparency, self-regulation and self-reporting, the way PFS Investments handled a longstanding problem serves as an example of how proactive remediation can turn a costly compliance error into a manageable regulatory outcome.
More from Regulatory Enforcement
-
ArticleDOJ charges Texas businessmen in alleged bribery scheme over PEMEX oil contracts
The Department of Justice says two Mexican businessmen living in Texas allegedly bribed Mexican officials to secure $2.5 million in contracts with Petróleos Mexicanos, Mexico’s state-owned oil company, and a subsidiary.
-
ArticleMatch.com agrees to pay $14 million in FTC settlement over subscription practices
Match.com, the online dating site, will pay $14 million and make changes to its membership terms to settle allegations that it made cancellations difficult and made misrepresentations to members, the Federal Trade Commission said Tuesday.
-
ArticleRansomware gang BlackSuit hit with major takedown after targeting 450 U.S. victims
The BlackSuit ransomware organization has taken a major hit under a U.S.-led, global law enforcement operation that seized the criminal group’s servers and assets, the Department of Justice said Monday.