Bednar, Gregory of Glenview, IL

Under the automatic disciplinary provisions of the Institute’s bylaws, Mr. Bednar’s AICPA membership was suspended for three years, effective September 19, 2016, 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. Bednar 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. This decision was based on the SEC’s findings that Mr. Bednar caused a Firm to violate the auditor independence rules by maintaining an inappropriate close personal relationship with the audit client’s CFO and members of the CFO’s family while he was the coordinating partner on the Firm’s audit team.