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U.S. Securities and Exchange Commission


Litigation Release No. 23277 / June 4, 2015

Accounting and Auditing Enforcement Release No. AAER-3661 / June 4, 2015

Securities and Exchange Commission v. David Rivard, 15 Misc. 0221 (E.D.N.Y. filed February 5, 2015)

Securities and Exchange Commission v. David Rivard, Civil Action No. 15 Misc. 0221 (E.D.N.Y. filed February 5, 2015), No. 04 Civ. 1464 (E.D.N.Y. filed Apr. 8, 2004)

Court Directs Accountant, On Consent, to Comply with Commission Suspension Order and Pay Disgorgement, and Holds Him in Contempt of Prior Final Judgment for Failing to Pay Monies Owed

The Commission today announced that, on June 3, 2015, the Honorable I. Leo Glasser of the United States District Court for the Eastern District of New York entered an Order on consent in two cases against David Rivard, a former certified public accountant. In the first case, the Order enforces a prior Commission order suspending Rivard from practicing accounting before the Commission, and requires Rivard to pay disgorgement in an amount to be determined at a later time. Securities and Exchange Commission v. David Rivard, 15 Misc. 0221 (E.D.N.Y. Feb. 5, 2015). The Order also requires Rivard to submit a detailed accounting identifying, among other things, all transfers and payments of funds to him or on his behalf since April 2009, the disposition of those funds, and all assets held by him or on his behalf. In the second case, the Order holds Rivard in contempt of a money judgment previously entered against him in SEC v. Rivard, No. 04 Civ. 1464 (E.D.N.Y. Apr. 8, 2004), which he may purge within 90 days. The Order incorporates a stipulation entered into by Rivard to execute a mortgage deed on a residential property in favor of the Commission to secure the amounts owed under the money judgment. Rivard is a resident of East Setauket, New York, and had previously been licensed as a certified public accountant by the State of New York from February 1992, until he surrendered his license, effective March 2008.

See prior litigation releases: LR-23190, LR-18954, LR-18665.



Modified: 06/05/2015