(The news featured below is a selection from the news covered in Federal Securities Law Reporter, which is distributed to subscribers of Federal Securities Law Reporter.)

CFO Charged in Revenue Recognition Case

The SEC charged the former CFO of a mortgage firm with violations of the antifraud and recordkeeping provisions of the securities laws with regard to the improper recognition of the full gain on several sales of real estate immediately. The SEC suspended the individual from appearing or practicing before the Commission as an accountant for at least five years.

Release No. 34-55622 is reported at ¶87,790.