SEC suspends former ARCP accounting officer Lisa McAlister

Ms. McAlister 'manipulated and falsely reported' a key financial metric, agency charges

Aug 17, 2017 @ 5:44 pm

By InvestmentNews

The Securities and Exchange Commission has permanently suspended Lisa McAlister, the former chief accounting officer of American Reality Capital Properties Inc.

In a settlement in which she consented to the agency's findings, the SEC said that Ms. McAlister "engaged in a fraudulent scheme to manipulate and falsely report a key financial metric" at the real estate investment firm where she was chief accounting officer from November 2013 until her resignation in October 2014.

The SEC complaint alleged, among other things, that Ms. McAlister and the firm's former chief financial officer manipulated and falsely reported ARCP's "Adjusted Funds from Operations," a key non-GAAP financial metric, in its public reports for the fiscal quarter ended June 30, 2014. The complaint alleged that the inflated figures, among other things, made it appear that ARCP had met analysts' consensus AFFO estimates for the quarter and concealed the fact that ARCP had overstated that number for the previous quarter.

In June, Ms. McAlister, a certified public accountant, pleaded guilty to charges that she violated portions of the securities laws, as well as federal laws involving conspiracy and making false statements.

American Realty Capital Properties is now known as Vereit Inc.


What do you think?

View comments

Recommended for you

Featured video


Cameras roll at Best Places to Work for Financial Advisers' awards

Advisory firm winners on the top 50 InvestmentNews list of Best Places to Work for Financial Advisers explain the significance of this recognition at the Chicago awards event.

Latest news & opinion

RIA in a Box acquired by private equity firm Aquiline Capital

New owners plan more growth for the software service provider.

IBDs with the most female reps

Here are the 10 independent-broker dealers that have the most female reps.

Supreme Court decision likely to prevent brokers from filing class-action lawsuits

However, it likely won't bar employees from filing 401(k) lawsuits against their employers.

5th Circuit denies states' second attempt to defend DOL fiduciary rule

The three-judge panel split again, 2-1, in deciding not to take another look at the motion to intervene by California, New York and Oregon.

Pass-through tax strategies for business-owner clients

Shifting business structure, changing filing status and spinning off equipment are examples of ways business owners can take advantage of the deduction.


Hi! Glad you're here and we hope you like all the great work we do here at InvestmentNews. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting It'll help us continue to serve you.

Yes, show me how to whitelist

Ad blocker detected. Please whitelist us or give premium a try.


Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print