1. (a) For the purpose of determining whether there are grounds to deny an applicant who was convicted of a financial crime currently classified as a felony pursuant to Section 480 of the Business and Professions Code, the crime shall be considered to be directly and adversely related to the qualifications, functions, or duties of a certified public accountant if it involves dishonesty, fraud, deceit, or theft that resulted in or could have resulted in either:

   1. (1) Direct financial benefit to the applicant or another person or entity; or
   2. (2) Direct financial harm to another person or entity (to include federal, state, or local government).

2. (b) The felony financial crimes shall include, but are not limited to, the following;

   1. (1) Crimes involving the acquisition or provision of false, altered, forged, counterfeit, or fraudulent statements or documents.
   2. (2) Crimes involving stolen property, embezzlement, money laundering, fraud, theft, grand theft, larceny, burglary, identity theft, bid rigging, racketeering, tax evasion, conspiracy to defraud, or obtaining money, labor, or property under false pretenses.
   3. (3) Crimes involving an attempt or conspiracy to commit such crimes listed in subdivision (b)(1) or (b)(2).

Note: Authority cited: Sections 7.5, 5010, 5018 and 5100.2, Business and Professions Code. Reference: Sections 5100 and 5100.2, Business and Professions Code.

History

1. New section filed 6-4-2021; operative 6-4-2021 pursuant to Government Code section 11343.4(b)(3) (Register 2021, No. 23). Filing deadline specified in Government Code section 11349.3(a) extended 60 calendar days pursuant to Executive Order N-40-20 and an additional 60 calendar days pursuant to Executive Order N-71-20. For prior history, see Register 83, No. 16.