Divided SEC Approves Lower Liability Threshold for Auditor Misconduct

Also, court vacates FTC non-competes rule; Larry Cunningham to lead University of Delaware corporate governance center; Jeff Brown joins Texas Stock Exchange

There’s nothing better than an SEC meeting on auditing standards to break the summer doldrums. Well, maybe there is. But today’s gathering did provoke a few fireworks, amid a 3-2 party-line approval of a PCAOB ethics rule that makes it easier to penalize individual accountants for misconduct. And it highlighted a growing frustration among the Republican…