Bottini, Nicholas of Webster, NY

Under the automatic disciplinary provisions of the Institute’s bylaws, Mr. Bottini’s AICPA membership was terminated, effective February 2, 2017, 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. Bottini the privilege of appearing or practicing before the Commission as an accountant. This decision was based on the SEC’s findings that Mr. Bottini, engagement partner, violated federal securities laws and engaged in improper professional conduct in connection with the audit of the financial statements of a SEC Registrant; willfully aiding and abetting and causing his Firm’s violations of Section 10A(a) of the Exchange Act when it conducted the SEC Registrant’s audit without including procedures which were designed to provide reasonable assurance of detecting illegal acts and identifying related party transactions; and for failing to comply with the standards of the PCAOB.