Description

The Securities and Exchange Commission today announced that Michael F. Maloney, Chief Accountant of the SECs Division of Enforcement, is planning to leave the agency next month.

Since February 2014, Mr. Maloney has led the Divisions Office of Chief Accountant, providing advice, consultation, and support on all of the Divisions accounting, auditing, and financial reporting enforcement matters. He has provided leadership and support to the Divisions approximately 100 accountants through advice, guidance, and involvement on individual enforcement matters as well as facilitating communication, knowledge sharing, and training on emerging issues. In addition, Mr. Maloney has worked on significant policy issues within the Division and with other Commission staff including the SECs Office of the Chief Accountant and the Division of Corporation Finance, and he has played a leadership role in the Divisions coordination with the Public Company Accounting Oversight Boards enforcement program.

Mike has been a trusted advisor to the Division in accounting, auditing, and reporting matters, said Stephanie Avakian, Co-Director of the SECs Enforcement Division. As the Divisions Chief Accountant, Mike has brought significant expertise and insight to the SECs financial fraud investigations. His leadership and integrity have been tremendous assets in our fight against financial fraud, and we will miss his sage advice in these matters.

Mr. Maloney said, It has been the honor of my career to work with the incredibly talented and dedicated enforcement accountants and attorneys who work every day to protect investors on the Divisions complex and challenging financial reporting matters. I am very proud of the results that the Division has achieved on financial reporting matters over the past four years.

During Mr. Maloneys tenure as the Divisions Chief Accountant, the SEC has brought financial reporting enforcement actions addressing a wide range of misconduct, including:

Mr. Maloney joined the SEC from Navigant Consulting Inc., where he was a managing director and led the firms forensic accounting practice. He was previously a partner at Arthur Andersen LLP. His experience includes performing complex forensic investigations of accounting, auditing, financial reporting, and other fraud matters, providing expert witness support and services, and performing and supervising financial statement audits at public and private entities in a variety of industries. Mr. Maloney earned his B.S. in Accountancy with high honors from the University of Illinois.

Comments
Order by: 
Per page:
 
  • There are no comments yet
   Comment Record a video comment
 
 
 
     
Related Feed Entries
FBI stats about inaccessible cellphones were inflated, undermining already controversial bureau claims about the threat of encryption.Source: Wired - Emerging technologies News
The Securities and Exchange Commission today announced fraud charges against three former Constellation Healthcare Technologies Inc. executives who falsified financial and other information they provided to a private firm in the course of negotiating the private firms acquisition of a majority stake in Constellation. Houston-based Constellation filed for bankruptcy in March, a little more than a year after the January 2017 acquisition. According to the SECs complaint, the executives convinced a…
11 days ago · From Securities Exchange Commission
The Securities and Exchange Commission today charged the owner of a Manhattan-based alternative investment firm with misappropriating close to $6 million in investor funds earmarked to finance the construction of an international airport in Belize. The SECs complaint alleges that between 2014 and 2017, Brent Borland sold more than $21 million of promissory notes to dozens of investors, promising that the funds would be used as bridge financing for development of an international airport in Pla…
11 days ago · From Securities Exchange Commission
The Securities and Exchange Commission today announced settled charges against broker-dealers Chardan Capital Markets LLC and Industrial and Commercial Bank of China Financial Services LLC (ICBCFS) for failing to report suspicious sales of billions of penny stock shares. Broker-dealers are required to file Suspicious Activity Reports (SARs) for transactions suspected to involve fraud or with no apparent lawful purpose. According to the SEC, from October 2013 to June 2014, Chardan, an introduci…
11 days ago · From Securities Exchange Commission
The Securities and Exchange Commission today charged four individuals for their roles in a fraudulent scheme that generated nearly $34 million from unlawful stock sales and caused significant harm to retail investors. According to the SECs complaint, the defendants manipulated the market for and illegally sold the stock of microcap issuer Biozoom Inc. As part of the alleged scheme, the defendants hid their ownership and sales of Biozoom shares by using offshore bank accounts, sham legal documen…
12 days ago · From Securities Exchange Commission
Rate
0 votes
Info
Michael Blair
Time is your GREATEST asset
30.01.2018 (30.01.2018)
18 Views
0 Subscribers
Recommend