U.S. Securities & Exchange Commission
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U.S. Securities and Exchange Commission

SEC Open Meeting Agenda
Thursday, August 7, 2003, 10:00 a.m.

Agenda as of the afternoon of August 6, 2003. Note that Open Meeting agendas are subject to last-minute changes.

Item 1: Carroll A. Wallace
Office:  Office of the General Counsel

Item 1: Carroll A. Wallace

The Commission will hear oral argument on an appeal by Carroll A. Wallace, C.P.A. from the decision of an administrative law judge. During the period covered by this Commission proceeding, Wallace was a partner in the Denver, Colorado office of the accounting firm of KMPG LLC.

Wallace has appealed the law judge's findings that Wallace recklessly engaged in improper professional conduct in violation of the Commission's Rule of Practice 102(e), 17 U.S.C. § 201.102(e), with respect to KMPG's audits of The Rockies Fund, an investment company, for the years 1994 and 1995.

Among the issues likely to be argued are:

  1. whether respondent recklessly engaged in improper professional conduct; and
  2. if respondent did recklessly engage in improper professional conduct, whether sanctions should be imposed in the public interest.

For further information, please contact the Office of the Secretary at (202) 942-7070.



Modified: 08/06/2003