SEC Reinstates Accountant Joseph Jennings, CPA After Suspension

The Securities and Exchange Commission (SEC) has issued an order granting the application for reinstatement of Joseph Jennings, CPA, to appear and practice before the Commission as an accountant. Jennings had been suspended on August 20, 2018, following findings that he engaged in insider trading by purchasing Kraft call options while in possession of material nonpublic information about the impending merger between H.J. Heinz Company and Kraft Foods Group, Inc. The suspension order permitted him to apply for reinstatement after two years if certain conditions were met.

This order signifies that Jennings has met the conditions for reinstatement and has demonstrated good cause for the privilege to be restored. The SEC's decision allows him to resume preparing or reviewing financial statements required to be filed with the Commission, other than as a member of an audit committee. This action does not impose new obligations on other regulated entities but reflects the SEC's administrative process for handling reinstatement requests following disciplinary actions.