Daily Archives: December 18, 2019, 2:24 pm

SEC Approves 2020 PCAOB Budget and Accounting Support Fee

The 2020 PCAOB budget totals $284.7 million, an increase of approximately 4.0% from its 2019 budget.  The accounting support fee totals $270.2 million, approximately 2.8% more than the 2019 accounting support fee, of which $239.7 million will be assessed on public companies and $30.5 million will be assessed on broker-dealers.  The accounting support fee approximates the PCAOB’s annual budget, with…

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Silicon Valley IT Administrator and Friends Charged in Multimillion Dollar Insider Trading Ring

According to the SEC’s complaint, Janardhan Nellore, a former IT administrator then at Palo Alto Networks Inc., was at the center of the trading ring, using his IT credentials and work contacts to obtain highly confidential information about his employer’s quarterly earnings and financial performance. As alleged in the complaint, until he was terminated earlier this year, Nellore traded Palo…

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Patrick Bryan Named PCAOB Director of the Division of Enforcement and Investigations

The Public Company Accounting Oversight Board today announced that Patrick Bryan has been named the PCAOB’s Director of the Division of Enforcement and Investigations. In this role, Mr. Bryan will advance the organization’s investigations and litigation of violations of PCAOB rules and other applicable securities regulations. *** Mr. Bryan currently serves as the Assistant General Counsel for Enforcement at the…

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Kenneth Lench Named PCAOB General Counsel

The Public Company Accounting Oversight Board today announced that Kenneth Lench has been named the PCAOB’s General Counsel. In this role, Mr. Lench will provide legal advice and counsel to the Board regarding all PCAOB operations and activities. “Ken brings deep experience in securities law and the capital markets, and will be an excellent addition to our leadership team,” said…

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