PracticeAccounting FirmsFormer PwC employees settle with SEC

Former PwC employees settle with SEC

Former PwC employees settle insider trading charges with SEC

Two former
PricewaterhouseCoopers LLP
(PwC) employees, charged yesterday with insider trading by the US
Securities
and Exchange Commission
, have agreed to pay civil penalties to settle the
charges.

Gregory Raben, 30, a former PwC auditor, agreed to pay $US47,758 (?24,278),
and William Borchard, 28, a former senior associate in PwC’s transaction
services group, agreed to pay $US20,836.

According to SEC’s complaint, Raben and Borchard used their access to
sensitive information about PwC’s clients to enable Raben to buy stock ahead of
a series of corporate takeovers. Without admitting or denying the allegations,
Raben and Borchard agreed to the settlement including monetary penalties.

Borchard, a licensed certified public accountant, was also barred from
practicing before the SEC as an accountant for three years under the plea deal.
The SEC said Borchard handled financial due diligence for PwC clients interested
in mergers or acquisitions and on six occasions in 2006 told his friend and
co-worker Raben about confidential plans.

Further reading:

AIG shareholders seek damages from PwC

Former auditors settle with SEC

Related Articles

Productive accountancy firms lead the way

Accounting Firms Productive accountancy firms lead the way

2d Simon Adcock, HSBC
LLPs in Top 50+50: Will LLPs continue to be the preferred set-up?

Accounting Firms LLPs in Top 50+50: Will LLPs continue to be the preferred set-up?

3d Fergus Payne, Lewis Silkin
BDO’s global revenues pass $8bn

Accounting Firms BDO’s global revenues pass $8bn

1w Alia Shoaib, Reporter
Top 40 International Networks, Associations and Alliances: Finding growth amid uncertainty

Accounting Firms Top 40 International Networks, Associations and Alliances: Finding growth amid uncertainty

2w Philip Smith, Reporter
Top 40 International Networks, Associations and Alliances 2017: Big Four tussle for top spot

Accounting Firms Top 40 International Networks, Associations and Alliances 2017: Big Four tussle for top spot

2w Emma Smith, Managing Editor
BDO reports revenue growth of 5.7%

Accounting Firms BDO reports revenue growth of 5.7%

2w Alia Shoaib, Reporter
Taylorcocks announces merger with Surrey firm

Accounting Firms Taylorcocks announces merger with Surrey firm

3w Emma Smith, Managing Editor
Kingston Smith reports 7% gender pay gap

Accounting Firms Kingston Smith reports 7% gender pay gap

3w Emma Smith, Managing Editor