Lesser, Simon of Chicago, IL

Under the automatic disciplinary provisions of the Institute’s bylaws, Mr. Lesser’s AICPA membership was suspended for three years, effective April 29, 2015, in connection with the disciplinary action taken by the Securities and Exchange Commission (SEC). Specifically, through an “Offer of Settlement”, and without admitting or denying the charges, the SEC denied Mr. Lesser the privilege of appearing or practicing before the Commission as an accountant with the right to apply for reinstatement after three years from the effective date of the SEC’s Order for engaging in repeated instances of unreasonable conduct with respect to the 2009 through 2012 financial statement audits of a Master Fund and its Feeder Funds, which resulted in violations of professional standards.