SEC goes after fund auditor

SEC takes aim at a private fund auditor’s part in fraud case.

SEC: The regulator has alleged that misconduct on the part of an auditor facilitated a fraud conducted by secondaries investor Laurence Allen, who lost a case brought against him by the New York Attorney General in 2020 (he is appealing the decision). SEC actions brought against auditors are exceedingly rare, and this one could have broader implications for the market, writes Bill Myers.

Email prepared by Graham Bippart