London, Scott - Agoura Hills, CA

Under the automatic disciplinary provisions of the Institute’s bylaws, Mr. London’s AICPA membership was terminated in connection with the disciplinary action taken by the Securities and Exchange Commission (SEC). Specifically, the SEC denied Mr. London the privilege of appearing or practicing before the Commission as an accountant. This decision was based on the SEC’s findings that while a partner at a firm, Mr. London accepted cash and other things of value as compensation for tips he provided to a friend concerning five audit clients. Thereby, causing the firm to violate the independence rules with respect to the five clients and that these violations in turn caused the five clients to make filings with the Commission that did not comply with the issuer’s reporting requirements.