SEC suspends former ARCP accounting officer Lisa McAlister

Ms. McAlister 'manipulated and falsely reported' a key financial metric, agency charges.
AUG 17, 2017

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.

Latest News

FINRA industry snapshot shows broker headcount growth as dual registration dominates
FINRA industry snapshot shows broker headcount growth as dual registration dominates

Industry report shows that there are now fewer firms as consolidation intensifies.

AI won't replace advisors but it will separate the ones who survive
AI won't replace advisors but it will separate the ones who survive

The firms building now have a head start that will be very difficult to close. The ones waiting are accumulating a debt they may not be able to repay.

Fintech industry crosses $500bn revenue mark, led by trading and investments
Fintech industry crosses $500bn revenue mark, led by trading and investments

Global revenues hit record high in 2025 with sector growing at four times the rate of traditional financial institutions.

SEC sues Texas man over alleged $12.3 million AI crypto scheme
SEC sues Texas man over alleged $12.3 million AI crypto scheme

He swore the bots were real, the FDIC had it covered - the SEC says neither was true

Citadel loses SEC fight as appeals court upholds IEX options trading speedbump
Citadel loses SEC fight as appeals court upholds IEX options trading speedbump

One firm controls 30% of options volume – and just lost this one

SPONSORED Estate planning isn't a service add-on. It's your retention strategy.

As $84 trillion prepares to change hands, advisors who treat estate planning as peripheral are quietly building a sieve, not a book.

SPONSORED Why strategy matters more than performance

In volatile markets, the advisors who win aren't the ones with the best calls - they're the ones whose clients stay the course.