Sal Graziano Addresses SEC Advisory Committee on Financial Reporting
March 13, 2008
BLB&G partner Salvatore Graziano was invited to appear before the Securities and Exchange Commission's Advisory Committee on Improvements to Financial Reporting ("Committee") for its public meeting on March 13, 2008 at the University of California in San Francisco. Mr. Graziano participated in a panel discussing recent proposals in the Committee's February 14, 2008 Progress Report, Chapter 3. The Committee proposed a "judgment framework" for accounting and auditing, including a checklist of nine factors to be considered in exercising the accountant's and auditor's "professional judgment" that is "based on a crucial and reasoned evaluation made in good faith." In addition, the Committee strongly supported a general move away from "rules-based" accounting standards and toward "principles-based" standards.
In his written submission and oral presentation, Mr. Graziano argued that the proposals would ultimately hurt investors by making it more difficult for competent, honest auditors to challenge management's judgment and by reducing the transparency, comparability and uniformity of financial statements while increasing their complexity. The proposals would further hurt investors by making it more difficult to prosecute accounting fraud both civilly and criminally.
Mr. Graziano is an experienced trial attorney whose practice focuses primarily on securities fraud class actions. He is also one of the partners who oversees the Firm's Subprime Litigation Practice Group, which serves to protect and vindicate shareholder and consumer rights arising from the mortgage and mortgage-based security debt crisis. He is currently lead counsel in investor class actions against subprime mortgage originators Fremont General Corp. and New Century Financial Corp.
External Link: SEC website (link will open in a new window)
Download: Mr. Graziano's Submission to SEC Committee (PDF 57.07 KB )
Also of Interest
Benchmark Names Salvatore Graziano One of the “Top 100 Trial Lawyers” in Nation
August 18, 2016
Benchmark Again Names Salvatore Graziano One of the “Top 100 Trial Lawyers” in Nation
August 1, 2017
Salvatore Graziano Selected One of the “Top 100 Trial Lawyers” in Nation by Benchmark
Benchmark Gives BLB&G its Top Ranking for the Ninth Year in a Row
Benchmark Names Seven BLB&G “Litigation Stars”
Law360 Profiles Salvatore Graziano as a "Class Action MVP"
November 10, 2015
Law360 Profiles Salvatore Graziano as a "Securities MVP"
December 6, 2016
Law360 Names Salvatore Graziano a "Securities MVP"
November 23, 2016
The National Law Journal Profiles BLB&G – Winner of Financial Litigation Elite Trial Lawyers Award
December 19, 2016
Law360 Names Salvatore Graziano and David Stickney as National Legal “MVPs”
November 9, 2015