SEC charges attorney over independence violations post-compliance engagement

The Securities and Exchange Commission (SEC) charged a New York-based attorney for allegedly engaging in improper conduct by violating her obligations to remain independent after preparing an independent compliance report for a company.

Ellen McCarthy agreed to an order suspending her from appearing or practicing before the commission, the SEC said in an administrative proceeding Thursday.

McCarthy violated the independence requirement related to her work as an engagement manager retained by an unnamed independent consultant hired by Manhattan Transfer Registrar Company after a 2018 settlement the company reached with the SEC, according to the agency’s order.