Healthier Choices Mgmt Corp (HCMC)

[36Knuckle]

“Public company auditors occupy positions of trust that are critical to protecting investors and our capital markets more broadly,” SEC Chair Gary Gensler said. “Marcum neglected its essential gatekeeper function in service to its own growth. Marcum took on more than 600 new SPAC clients for a nearly six-fold increase in just one year, churning out audits at an unsustainable pace causing widespread quality control and audit standard violations that put its clients and the investing public at risk.”
The SEC also noted that Marcum offered $10 million to settle the case, which the commission said it will accept it. Marcum is major accounting partner in the cannabis industry.