United States DC Circuit

In numerous challenges to a cease-and-desist order entered by the SEC, appellant lacked fair notice of the SEC's interpretation of a rule on accountants' professional conduct; negligence is a permissible basis for a cease-and-desist order against accountants who cause a violation of securities laws or regulations.

Appellate Information

• Argued 02/15/2002
• Decided 05/14/2002
• Published 05/14/2002

Judges

• Before:  HENDERSON, RANDOLPH and ROGERS, Circuit Judges.

Court

• United States DC Circuit

Counsel

• For Appellant:
  
• Michael P. Carroll argued the cause for petitioner.   With him on the brief were Ronald S. Flagg and Joseph R. Guerra., Louis A. Craco, Jr. argued the cause and filed the brief for amicus curiae American Institute of Certified Public Accountants in support of petitioner.


• For Appellees:
  
• Rada Lynn Potts, Senior Litigation Counsel, Securities and Exchange Commission, argued the cause for respondent.   With her on the brief were David M. Becker, General Counsel, Jacob H. Stillman, Solicitor, and Michael A. Conley, Attorney.